Loncin Motor Co.Ltd(603766) announced on February 7 that the company received the notification letter from the controlling shareholder Longxin Holding Co., Ltd. on the same day. It had received the civil ruling served by Chongqing No. 5 intermediate people’s Court on January 30 this year, and the court ruled to accept its reorganization application.
So far, Longxin holdings holds about 1.028 billion shares of the listed company Loncin Motor Co.Ltd(603766) , accounting for 50.07%, of which the cumulative pledge proportion accounts for 99.94% of the shares of the company, and all of them are in the cumulative frozen / waiting frozen state, accounting for 50.07% of the total share capital of the company.
Loncin Motor Co.Ltd(603766) said that the company has independent and complete business and independent operation ability, and maintains mutual independence with Longxin holdings in terms of business, personnel, assets, organization and finance. There is no case that the interests of listed companies are occupied by the controlling shareholders in violation of regulations, such as occupying funds or providing illegal guarantees for them. At present, the company’s production and operation activities are normal, and the application for reorganization of the controlling shareholder is accepted by the court, which will not have a significant impact on the company’s daily production and operation activities and financial status.
The company reminded again that the reorganization of Longxin holding may lead to changes in the company’s control. Previously, when disclosing the progress of pre reorganization, the company disclosed that the consortium composed of Shandong Jiuyang Group Co., Ltd. as the leader has become a strategic investor in the pre reorganization of 13 enterprises such as Longxin group.
