Shanghai Stock Exchange Main Board Listing ·603950.SH
Disclosure of the Restructuring Report (Draft): Proposed Issuance of Shares to Acquire 100% Equity Interest in Kanghao Mechanical & Electrical Co., Ltd.
The transaction is valued at RMB 5.01 billion, to be paid by issuing approximately 168 million shares at RMB 29.75 per share, with an additional RMB 2 billion to be raised from no more than 35 specific investors; this constitutes a major asset restructuring and related-party transaction, but does not amount to a backdoor listing. Approval by the shareholders’ meeting, review and approval by the Shanghai Stock Exchange, and registration approval by the China Securities Regulatory Commission are still required.
The transaction is valued at RMB 5.01 billion, to be paid by issuing approximately 168 million shares at RMB 29.75 per share, with an additional up to RMB 2 billion to be raised from no more than 35 specific investors; it constitutes a major asset restructuring and related-party transaction but does not amount to a backdoor listing, and remains subject to approval by the shareholders’ meeting, review and approval by the Shanghai Stock Exchange, and registration approval by the China Securities Regulatory Commission.
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Xiangyang Changyuan Donggu Industrial Co., Ltd.
Hongshantou Industrial Park, Xiangzhou District, Xiangyang City, Hubei Province
SSE Main Board: 603950
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