Summary by Moomoo AI
On February 2, 2024, Hengda Motor announced an update on the progress of the proposed transaction with China's Hengda Group and other acquirers. The proposed transaction involves the conversion of the relevant loans into new shares and may involve connected transactions with China's Hang Da Group, Mr. Xu and Xinxin. Since August 14, 2023, the Company has issued a number of announcements regarding this matter, including the Debt Transfer Announcement, Delayed Posting Announcement, Insider Announcement, Monthly Update Announcement and Update Announcement. For the time being, Evergrande Motor and the purchaser have suspended negotiations on amendments to the terms of the proposed transaction, but said that it was still studying whether to proceed with the proposed transaction and had not reached a final decision. The Company undertakes to comply with the Acquisition Code and Listing Rules and to make further announcements in due course. Shareholders and potential investors are reminded to exercise caution when trading shares.