On February 10, Yango Group Co.Ltd(000671) (hereinafter referred to as ” Yango Group Co.Ltd(000671) “) issued an announcement on the judicial freezing of shares held by shareholders.
According to the announcement, some shares of Yango Group Co.Ltd(000671) held by the controlling shareholder Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”), the wholly-owned subsidiary Dongfang Xinlong Asset Management Co., Ltd. and the controlling shareholder Fujian Kangtian Industrial Group Co., Ltd., who acted in concert, were judicially frozen by AVIC Trust Co., Ltd. The starting date of this freeze is January 28, 2022 and the expiration date is January 27, 2025.
The announcement also disclosed that the total number of shares involved in the freeze was about 226 million, accounting for 5.47% of the total share capital of Yango Group Co.Ltd(000671) . The reason for the freeze was property preservation. Among them, sunshine group has the most shares frozen by the judiciary this time, about 118 million shares, accounting for 17.51% of its shares and 2.86% of the total share capital of Yango Group Co.Ltd(000671) .
Yango Group Co.Ltd(000671) said that the judicial freezing of the company’s shares held by the company’s controlling shareholders and persons acting in concert will not have a direct impact on the company’s production and operation, corporate governance, etc., and will not lead to the change of actual control.
In addition, Yango Group Co.Ltd(000671) also said that the controlling shareholders and persons acting in concert of the company may have short-term liquidity risks and will continue to face uncertain matters such as litigation, arbitration and asset freezing in the future.
