Summary by Moomoo AI
Zoomlion Heavy Industry Science & Technology Co., Ltd. (Stock Code: 1157) announced that the planned spin-off and listing of its subsidiary will be terminated. This decision is based on significant changes in the market environment since the spin-off plan was initiated, and is made to protect the interests of the company and investors after full consideration and careful deliberation with relevant parties. The decision to terminate the spin-off plan also requires submission to the general meeting of shareholders for approval by the board of directors. The company will follow relevant laws and regulations as well as the company's articles of association to complete the necessary decision-making and approval processes, and will timely disclose relevant information based on the progress of the termination of the spin-off. This announcement was issued by the Chairman of the Board of Directors, Mr. Zhan Chunxin, on September 13, 2024.
