1. This merger involves the listed company of the merging party, the futures company of the merging party, the controlling shareholders of the two companies and the minority shareholders of the futures company. The scope of transactions includes both the assets of listed companies and the overall assets of futures companies. The workload of verification and investigation by intermediaries is large, which leads to a long time-consuming related work.
2. This merger constitutes a major asset reorganization, which needs to be approved by the China Securities Regulatory Commission and other regulatory agencies. Listed companies and intermediaries need to do a lot of work, resulting in long working hours;
3. Over the past year or so, the supervision standards of China's capital market for listed companies and futures industry have been improved day by day, and many new policies, standards and regulations have been promulgated. As listed companies, futures companies, their controlling shareholders and even minority shareholders in this reorganization, the corresponding work is more detailed, and the verification and investigation work of the corresponding intermediaries takes a long time.