TIMES' controlling shareholder intends to transfer 29.99% of the company's shares to Guangzhou Light Industry, and the actual controller will change to the Guangzhou Municipal People's Government
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TIMES' controlling shareholder Rugao Xintai intends to transfer 29.99% of its shares to Guangzhou Light Industry. After the transaction, Guangzhou Light Industry will become the controlling shareholder, and the Guangzhou Municipal People's Government will become the actual controller. The transaction price and terms have not yet been determined and are subject to approval by the State-owned Assets Supervision and Administration Commission, which introduces uncertainty
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