On January 19, Yango Group Co.Ltd(000671) (hereinafter referred to as ” Yango Group Co.Ltd(000671) “) announced that it had received the notice from the controlling shareholder of the company, Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”), that Yango Group Co.Ltd(000671) 77585000 shares held by sunshine group had been frozen by China Citic Bank Corporation Limited(601998) Fuzhou branch.
The announcement disclosed that the frozen shares accounted for 11.49% of the shares held by sunshine group and 1.87% of the total shares of Yango Group Co.Ltd(000671) . The starting date was January 14, 2022 and the expiration date was January 13, 2025. The reason for the freezing was property preservation.
Yango Group Co.Ltd(000671) said that the freezing will not have a direct impact on the company’s production and operation, corporate governance, or change the actual control. Sunshine Group may have short-term liquidity risk, and relevant liquidity problems are still under further treatment. In the future, Sunshine Group will continue to face uncertain matters such as litigation, arbitration and asset freezing.
