Haitong Securities Co., Ltd. (hereinafter referred to as “Haitong Securities”) was founded in 1988 as one of the earliest securities companies that have not been renamed and did not receive capital injection. The predecessor of the Company is Shanghai Haitong Securities Company. It was converted into a limited liability company in 1994 and later developed into a national securities company. At the end of 2001, the Company became a joint stock company. In 2002, the Company raised additional capital by issuing addition shares and the registered capital increased to RMB8.734bn, which made it a full-service securities company with the largest amount of capital in the Chinese securities industry. In 2005, the Company successfully took over Gansu Securities and Xingan Securities to achieve fast expansion at a low cost. In the same year, the Company became a securities firm in the pilot financial innovation program. In 2007, Haitong Securities was listed at Shanghai Stock Exchange and concluded the private placement. In April 2012, it was listed at the Stock Exchange of Hong Kong Limited. In 2015, the Company completed private placement on the Hong Kong market and its registered capital swelled to RMB11.502bn. Since 2007, the total assets and net assets of the Company have always ranked number two in the Chinese securities industry.