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Further Weakness as Citychamp Dartong Advanced Materials (SHSE:600067) Drops 9.7% This Week, Taking Five-year Losses to 31%
China Orient AM to Acquire Stake in Citychamp Dartong's Unit Through Debt-to-Equity Swap, Capital Increase
Crown City New Materials (600067.SH): Plans to introduce Eastern Assets to increase the capital of Datong New Materials by 0.3 billion yuan.
On December 20, Gelonghui reported that Guancheng New Materials (600067.SH) announced that in order to reduce the debt-to-asset ratio of Datong New Materials, optimize the capital structure, enhance capital strength, and improve overall competitiveness, the company intends to introduce Oriental Asset to conduct a market-oriented Debt-for-equity Swaps for Datong New Materials. Oriental Asset will increase its capital in Datong New Materials by 0.3 billion yuan in cash through a limited partnership (hereinafter referred to as "SPV"), subscribing to an additional 98.4 million shares of Datong New Materials. The capital raised will be used to repay the financial liabilities within the consolidated financial statements of Datong New Materials. After the completion of this capital increase, the SPV will hold approximately 19% of Datong New Materials.
Citychamp Dartong Advanced Materials to Raise Subsidiaries' Capital Through Debt Conversion
Guancheng New Materials (600067.SH) plans to increase capital to its subsidiary holding company with debt.
On November 26, Gelonghui reported that Guancheng New Materials (600067.SH) announced plans to actively promote the company's current major assets restructuring project, to clarify the equity and debt relationships with its subsidiary holding companies, and to facilitate the company's global strategy transformation. The wholly-owned subsidiary Guancheng Huitai plans to convert its claim of 1500 million yuan against Nanjing Wansheng to capital reserves at a ratio of 1:1. Meanwhile, the company intends to convert its claim of 299,999,999 yuan (equivalent to 42,134,853 USD) against Hong Kong Datong to equity at a ratio of 1:1.
Citychamp dartong (600067.SH): Actively seeking opportunities for vertical and horizontal mergers and acquisitions in the existing electromagnetic wire business industry chain.
On November 12, Citychamp Dartong (600067.SH) stated on the investor interaction platform that the company is currently accelerating the pace of its delocalization global strategy, speeding up the development and sales progress of existing real estate projects, gradually clearing assets unrelated to the company's main business, and actively planning to transfer the assets and liabilities related to real estate development business held by the company to the controlling shareholder (or related companies designated by the actual controller). On the other hand, the company will further expand and strengthen the electromagnetic wire business through timely expansion, mergers and acquisitions, and actively seek vertical and horizontal merger opportunities upstream and downstream of the existing electromagnetic wire business industry chain to achieve long-term sustainable growth.
Investors Don't See Light At End Of Citychamp Dartong Co.,Ltd.'s (SHSE:600067) Tunnel
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