Changhong energy, a listed company on the Beijing stock exchange, disclosed on January 21 that the company plans to plan major events and apply for suspension.
The company plans to issue shares and pay cash to purchase the minority shareholders of Changhong Sanjie new energy Co., Ltd., the holding subsidiary of the company, Mr. Yang Qingxin, Mr. Zhao Xuedong and Taixing Zhongjie new energy partnership, which jointly hold no more than 33.17% of the equity of Changhong Sanjie, and issue shares to qualified specific investors to raise matching funds. This transaction is expected to constitute a major asset reorganization, but does not constitute a reorganization and listing. This transaction is expected not to lead to the change of the actual controller of the company.
The company has signed the memorandum on equity acquisition cooperation framework of Changhong Sanjie new energy Co., Ltd. with Mr. Yang Qingxin, Mr. Zhao Xuedong and Zhongjie.
The trading of the company’s shares has been suspended since January 24 and is expected to resume before February 14.
