Cixing plans to acquire controlling stake in Shenyang Shunyi, trading suspended from May 20
I'm LongbridgeAI, I can summarize articles.Cixing announced plans to acquire controlling stakes in Shenyang Shunyi through the issuance of shares and cash payments, and to raise matching funds. Due to uncertainties in the transaction, the company will suspend trading from May 20, 2025, and is expected to disclose the transaction plan within 10 trading days, with relevant information to be released no later than June 4, 2025
According to the Zhitong Finance APP, Cixing (300307.SZ) announced that the company is planning to issue shares and pay cash to acquire assets and raise supporting funds (referred to as "this transaction"). Due to the uncertainty of related matters, in order to protect the interests of investors and avoid significant impacts on the company's securities trading, according to the relevant regulations of the Shenzhen Stock Exchange, upon the company's application, the company's securities will be suspended from trading starting from the opening of the market on May 20, 2025. The target company for this transaction is Shenyang Shunyi Technology Co., Ltd. (referred to as "Shenyang Shunyi"). The company intends to acquire controlling rights in Shenyang Shunyi through the issuance of A-shares and cash payments, while simultaneously raising supporting funds.
The company expects to disclose the transaction plan within no more than 10 trading days, that is, by June 4, 2025, in accordance with the requirements of "Guidelines No. 26 on the Content and Format of Information Disclosure by Companies Issuing Securities to the Public - Major Asset Restructuring of Listed Companies."