Before the Dragon Boat Festival, Yongfeng Financial acquired Huiri Securities, marking its third acquisition in the past year. This year, despite the impact of stock, currency, and bond markets, acquisition activities have remained robust.

Yongfeng has aggressively expanded, spending nearly 77 billion yuan on acquiring banks and securities companies; however, it still lacks presence in the life insurance sector. CEO Zhu Shiting has admitted to evaluating potential life insurance acquisitions, with plans to reassess after the implementation of IFRS 17 next year.

Nonetheless, a senior executive noted that there are not many life insurance targets available for sale, stating, “Sometimes when you want to buy, there aren’t any sellers.” On the eve of the Dragon Boat Festival, CFO Hsu Rumei announced that Yongfeng's subsidiary, Yongfeng Securities, has purchased Huiri, previously known as Lyon Securities from France, which primarily serves foreign institutional clients. Last year, Huiri reported a net profit of 330 million yuan, and the merger is expected to be highly complementary to Yongfeng Securities.

Yongfeng Securities ranks fourth in Taiwanese brokerage business and could increase its market share from 4.78% to 5.42% through the merger. Despite the complicated market environment, Yongfeng remains optimistic about future acquisition opportunities.