Summary by Moomoo AI
HUACHEN CHINA AUTOMOBILE HOLDINGS LIMITED (“HUACHEN CHINA”) ANNOUNCED ON 15 MARCH 2024 THAT, FOLLOWING A RESTRUCTURING OF ITS CONTROLLING SHAREHOLDERS, SHENYANG AUTOMOBILE HAS SIGNED A CONDITIONAL INVESTMENT AGREEMENT AND COMPLETED THE ACQUISITION OF 100% SHAREHOLDING IN HUACHEN. Upon completion of the transaction, Huachen and Liaoning Xinrui are no longer the controlling shareholders of the Company, but remain the principal shareholders and related persons. SHENYANG AUTOMOBILE, THROUGH ITS WHOLLY OWNED SUBSIDIARIES HUACHEN AND LIAONING XINRUI, HOLDS APPROXIMATELY 29.99% OF THE SHARES OF HUACHEN CHINA, AND THE STATE ASSET MANAGEMENT COMMITTEE OF THE SHENYANG PEOPLE'S GOVERNMENT BECOMES THE EFFECTIVE CONTROLLER OF HUACHEN. After this change in shareholding, Shenyang Automotive became the major shareholder of Huachen China.