Hunan Investment Group (000548.SZ) announced on September 27th that on August 29, 2024, the company received a notification from the actual controller, the Changsha State-owned Assets Supervision and Administration Commission, in accordance with the relevant documents of the Changsha Municipal Government regarding the restructuring and integration of Jiaotou Group. The Changsha State-owned Assets Supervision and Administration Commission intends to transfer all the equity held in Jiaotou Group to Changtou Holdings for free. This free transfer is the latest decision and is independent of the previous free transfer of all equity of the Changsha Huanlu Construction and Development Group Co., Ltd. held by Changsha State Capital Operation Holding Group Co., Ltd. to Jiaotou Group. On September 27, 2024, Changtou Holdings and the Changsha State-owned Assets Supervision and Administration Commission signed the Agreement on Free Transfer of State-owned Equity. The subject of this free transfer is 100% equity of Jiaotou Group held by the Changsha State-owned Assets Supervision and Administration Commission, with the transfer benchmark date being December 31, 2023.
After the completion of this state-owned equity free transfer, the controlling shareholder of Changsha Traffic Investment Holdings Group Co., Ltd. (referred to as Jiaotou Group) will be changed from the Changsha Municipal People's Government State-owned Assets Supervision and Administration Commission (referred to as Changsha State-owned Assets Supervision and Administration Commission) to Changsha Investment Holdings Group Co., Ltd. (referred to as Changtou Holdings), and the actual controller will be changed from Changsha State-owned Assets Supervision and Administration Commission to the Changsha Municipal People's Government (referred to as Changsha Municipal Government). It is expected that the above changes will also lead to a change in the actual controller of Hunan Investment Group Co., Ltd. (referred to as the Company).
This state-owned equity free transfer will not result in a change in the company's controlling shareholder. After this free transfer, the actual controller of the company will be changed from Changsha State-owned Assets Supervision and Administration Commission to the Changsha Municipal Government.
