Tianshan Electronics (301379.SZ) announced that Mr. Li Xiaoyong, a shareholder holding more than 5% of the company's shares, and his concerted action person, Shenzhen Zhongjin Lanhai Asset Management Co., Ltd. (referred to as 'Zhongjin Lanhai') received the 'Decision on Ordering Li Xiaoyong and Shenzhen Zhongjinhaizhichan Asset Management Co., Ltd. to Repurchase Shares Illegally Reduced and Paying the Price Difference to the Listed Company' issued by the Guangxi Regulatory Bureau of the China Securities Regulatory Commission.
Tianshan Electronics (301379.SZ) announced that Mr. Li Xiaoyong, a shareholder holding more than 5% of the company's shares, and his concerted action person, Shenzhen Zhongjin Lanhai Asset Management Co., Ltd. (referred to as 'Zhongjin Lanhai') received the 'Decision on Ordering Li Xiaoyong and Shenzhen Zhongjinhaizhichan Asset Management Co., Ltd. to Repurchase Shares Illegally Reduced and Paying the Price Difference to the Listed Company' issued by the Guangxi Regulatory Bureau of the China Securities Regulatory Commission.
The announcement stated that the main violation of this event is that Mr. Li Xiaoyong, a shareholder holding more than 5% of the company's shares, and his concerted action person Zhongjin Lanhai do not have a profound understanding of the provisions of the laws and regulations related to concerted action and equity changes, and there is no subjective intention. The relevant personnel have a deep understanding of this mistake.
Mr. Li Xiaoyong, a shareholder holding more than 5% of the company's shares, and his concerted action person Zhongjin Lanhai will repurchase 0.1004 million shares (accounting for 0.07% of the company's shares) of the centralized bidding excess reduction in accordance with the relevant laws and regulations, and the repurchase period is from August 15, 2024, to February 14, 2025. The repurchase quantity is 0.1005 million shares; and it is promised that if the repurchase price is lower than the average price of the excess reduction of the stock, the corresponding amount of the price difference will be paid to the company.