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Xiangcai Co., Ltd.: Merger via Share Swap with Dazhihui Trading Suspended Due to Data Validity Period Issues
Mingji AI Express, March 15 — Xiangcai Shares announced that the company plans to acquire and merge with Dazhihui through a share swap and raise supporting funds. On March 14, the company received a notice from the Shanghai Stock Exchange stating that the review was suspended because the valuation data in the application documents expired on that day, and the most recent audited financial statements will expire on March 31. Currently, data update work is underway, and the SSE has suspended the review of this transaction. This suspension will not have a significant adverse impact, and the company’s operations are normal. After completing the updates, the company will submit the materials as soon as possible and apply to resume the review. Whether this transaction can ultimately pass the review and obtain registration remains uncertain.
Daily Economic News