The reasons why Minsheng Holdings will not reorganize are as follows:

1. Minsheng Holdings may receive capital injection from Minsheng Wealth and Minsheng Trust in the short term;

2. Minsheng Holdings' major shareholder, Oceanwide Group, is finance + real estate + strategic investment. Minsheng Holdings' positioning is financial services, including finance. In order to avoid horizontal competition, injecting good assets into Oceanwide will prevent the reorganization of Minsheng Holdings.

3. Oceanwide Group is purely a capital operation. It inflated Minsheng Holdings and sold them all. In the end, all financial assets were given to Oceanwide Holdings.