Summary by Moomoo AI
HUACHEN CHINA (SHARE CODE: 1114) ANNOUNCES NEW PROGRESS IN THE RESTRUCTURING PROCESS OF ITS CONTROLLING SHAREHOLDERS. According to the company's announcement, the transfer of 0.44% of the shares was completed through the exchange system on 12 March 2024. At present, Huachen indirectly holds 29.99% of the company's shares through Liaoning Xinrui. In addition, Shenyang Motor has signed a conditional investment agreement to acquire 100% of the shares in Huachen, which will take place after the completion of the transfer of 0.44% of shares. All delivery prerequisites have been met and registration of change of shareholders is expected to be completed within three business days. Upon completion of the transaction, Shenyang Motor will indirectly hold the remaining 29.99% stake in Huachen. HUACHEN CHINA WILL CONTINUE TO FOCUS ON THE RESTRUCTURING PROCESS AND TIMELY UPDATE SIGNIFICANT DEVELOPMENTS TO SHAREHOLDERS AND THE PUBLIC.