Wanxiang Qianchao Co.Ltd(000559) : it is proposed to transfer 8927536 shares of Tianjin Songzheng to Tianjin Songzheng

Wanxiang Qianchao Co.Ltd(000559) (SZ Wanxiang Qianchao Co.Ltd(000559) , closing price: 5.38 yuan) announced on March 29 that the company plans to transfer to Tianjin Songzheng

Let’s hold 892753600 shares of Tianjin Songzheng. After equal and voluntary negotiation between the company and Tianjin Songzheng, the company signed a contract on the repurchase of 8927536 shares of Tianjin Songzheng held by Tianjin Songzheng in accordance with the civil code of the people’s Republic of China, the company law of the people’s Republic of China and relevant laws and regulations. The contract stipulates that the company will realize the withdrawal of investment by means of directional dividend from Tianjin Songzheng and repurchase the shares of Tianjin Songzheng held by the company,

The total consideration for transfer includes dividend payment and equity transfer price totaling 147304300 yuan, including dividend payment of 513333 million yuan and equity transfer price of 95.971 million yuan. After the completion of this transaction, the company no longer holds the equity of Tianjin Songzheng.

From January to June 2021, Wanxiang Qianchao Co.Ltd(000559) the composition of operating revenue is: machinery manufacturing accounts for 61.27%, and material trade accounts for 33.61%.

Wanxiang Qianchao Co.Ltd(000559) ‘s chairman is Guan Dayuan, male, 59, with a master’s degree background; The general manager is Li Pingyi, male, 55 years old, with a bachelor’s degree.

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