On January 17, the first management department of listed companies of Shanghai Stock Exchange issued an inquiry letter to Nbtm New Materials Group Co.Ltd(600114) . After hours on January 17, the company disclosed that it planned to acquire the remaining 40% equity of its holding subsidiary Zhejiang dongmukeda with RMB 232 million in cash and 97% equity of Deqing Xinchen company with RMB 194 million in cash.
According to the announcement, Ningbo xinjinguang, the counterparty of this transaction, was invested and established by some directors and backbone personnel of the company. It holds 10% equity of Zhejiang Dongmu Keda and 55% equity of Deqing Xinchen company. The company plans to acquire the above shares with a total of 162 million yuan.
The Shanghai stock exchange requires the company to supplement and disclose the historical evolution of the underlying assets and the counterparty Ningbo xinjinguang, the background, reasons and specific shareholding proportion of the company’s management shareholding, the difference between the transferor’s respective acquisition costs and the acquisition price, and explain the rationality and necessity of acquiring the underlying assets from the company’s management in combination with the above situation.
