The China Securities Regulatory Commission will take over the New Times Securities, Guosheng Securities and Guosheng Futures according to law

The China Securities Regulatory Commission takes over the management of New Times Securities, Guosheng Securities and Guosheng Futures according to law

　　China News Agency, Beijing, July 17th, in view of the fact that New Times Securities Co., Ltd. (hereinafter referred to as New Times Securities), Guosheng Securities Co., Ltd. (hereinafter referred to as Guosheng Securities) and Guosheng Futures Co., Ltd. (hereinafter referred to as Guosheng Futures) concealed actual control. Person or shareholding ratio, unbalanced corporate governance, and in order to protect the legitimate rights and interests of investors and maintain the order of the securities market, according to Article 143 of the Securities Law of the People’s Republic of China and Articles 8 and Article 62 and the relevant provisions of Article 56 of the "Regulations on the Management of Futures Trading", the China Securities Regulatory Commission decided that from July 17, 2020 to July 16, 2021, New Times Securities, Guosheng Securities, Guosheng Futures Take over.

　　According to the regulations, the China Securities Regulatory Commission has organized corresponding company takeover groups to exercise the management and management rights of the companies that have been taken over from the date of takeover. At the same time, the China Securities Regulatory Commission entrusted CITIC Construction Investment Co., Ltd., AVIC Securities Co., Ltd. and China Merchants Securities Co., Ltd. Co., Ltd. and Guotai Junan Futures Co., Ltd. set up a corresponding company trusteeship group. The trusteeship group will work in accordance with the trusteeship agreement under the guidance of the takeover group.

　　After the takeover, the three companies operate normally, customer transactions are not affected, and funds are transferred in and out normally. The takeover team and custodian team will take effective measures to maintain the company's stable operation and protect the legitimate rights and interests of investors and other relevant parties in the securities and futures market according to law. (Finish)