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West Shanghai Automotive Service (605151.SH): The follow-up platform plans to delist and subscribe to 16.599% equity of Wuhan Yuanfeng, and the company waives its priority subscription rights.
Gelonghui announced on September 12th that West Shanghai Automotive Service (605151.SH) disclosed that the shareholder Hunan New Materials Industry Venture Capital Fund Enterprise (Limited Partnership) (referred to as "New Material Venture Capital") intends to transfer its 16.599% equity of Wuhan Yuanfeng Auto Parts Co., Ltd. (referred to as "Wuhan Yuanfeng") through public listing on Hunan Provincial United Property Rights Exchange (referred to as "Hunan United Exchange"). The listing transfer floor price is 40.4601 million yuan, and the actual transaction price will be determined by the transfer results of Hunan United Exchange. The core management team of the company consists of Shanghai Chengjiaji Enterprise.
West Shanghai (605151.SH): Employee stock ownership plan intends to raise no more than 51.55 million yuan in 2024.
On September 12, Xishanghai (605151.SH) announced its employee stock ownership plan for 2024. The total amount of funds raised for this employee stock ownership plan will not exceed 51.55 million yuan. The subscription unit for each share is 1 yuan, and the maximum number of shares for this employee stock ownership plan is 51.55 million. The final total amount of funds raised and the number of shares will be determined based on the actual payment situation of the participants. The source of funds for this employee stock ownership plan includes the employees' legal compensation, self-raised funds, and other methods allowed by laws and regulations. The company does not provide any financial assistance such as advance funds, guarantees, loans, etc. to the participants in any way.
West Shanghai (605151.SH): repurchased 2.6994% of the shares.
On September 2, GeLongHui announced that as of August 31, 2024, the company has repurchased a total of 3,652,800 shares through the Shanghai Stock Exchange trading system using centralized competitive bidding trading method, accounting for 2.6994% of the company's current total share capital of 135,319,111 shares. The highest repurchase price was RMB 15.65 per share, and the lowest price was RMB 14.18 per share. The total amount paid was RMB 54,529,479.00 (excluding transaction costs).
Earnings Troubles May Signal Larger Issues for West Shanghai Automotive ServiceLtd (SHSE:605151) Shareholders
West Shanghai Automotive Service 2024 Half-Year Report
Summary of the Semi-Annual Report for West Shanghai Automotive Service in 2024
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