1. Business scope: Minmetals Securities has a number of wholly-owned subsidiaries, including Minmetals Jintong Equity Investment Fund Management Co., Ltd. and Minmetals Jinding Investment Co., Ltd., which provides Minmetals Securities with broader business channels and more business opportunities, while Northeast Securities has a relatively small business scope, mainly focusing on securities brokerage, securities underwriting and sponsorship, and securities self-operation.

2. Market performance: Compared with Northeast Securities, Minmetals Securities has better market performance, better financial position, stronger profitability, higher customer satisfaction and better market reputation.