Gelonghui October 22nd | Suzhou Jin Hong Shun Auto Parts (603922.SH) announced that the company is planning to purchase the equity of New Thinking Electric Machine Co., Ltd. (referred to as "New Thinking") by issuing shares and paying cash at the same time raising supporting funds.
Based on preliminary calculations, this transaction is expected to constitute a major asset restructuring as defined in the Measures for the Administration of Major Asset Restructuring of Listed Companies. According to the relevant regulations of the Shanghai Stock Exchange Stock Listing Rules (revised in April 2024), this transaction is not expected to constitute a related party transaction for the company. This transaction will not result in a change of the actual controller of the company, nor will it constitute a restructuring for listing. Due to the uncertainties surrounding this transaction, in order to ensure fair disclosure of information, protect the interests of investors, and avoid significant impact on the company's stock price, in accordance with relevant regulations such as the Shanghai Stock Exchange Listed Company Self-Discipline Supervision Guidelines No. 4 - Trading Suspension/Resumption, the company, upon application, will suspend trading of its stock (security abbreviated as Jin Hong Shun, security code: 603922) starting from Wednesday, October 23, 2024, with the expected suspension period not exceeding 10 trading days.
After this transaction is completed, New Thinking is expected to become a wholly-owned subsidiary or controlling subsidiary of the company. The company has signed a Share Acquisition Intention Agreement with the major shareholders of the target of the transaction, Shenzhen Hezheng Industrial Investment Co., Ltd., and Cai Rongjun, agreeing that the company will purchase the equity of the target of the transaction by issuing shares and paying cash, with the final price to be determined by the evaluation report issued by an evaluation institution qualified for securities industry hired by the company and agreed upon by the parties to the transaction.
