Shimao Energy: Intends to issuance shares to purchase the controlling rights of Zhanding Technology

Jinshi data news on November 11th, Shi Mao Energy announced that the company is planning the issuance of shares and payment of cash to purchase the controlling interest of Nantong Zhanding Material Technology Co., Ltd. (Zhanding Technology). As the valuation and pricing of Zhanding Technology have not been finally determined, this transaction may constitute a major asset restructuring. This transaction will not cause a change in the actual controller of the company and will not constitute a restructuring for listing. The company's stock has been suspended from trading since November 11, 2024, and the suspension period is expected to be no more than 10 trading days.

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