Summary by Moomoo AI
ZHEJIANG HANGYONG (ZHEJIANG EXPRESSWAY) ISSUED A SUPPLEMENTAL ANNOUNCEMENT ON APRIL 16, 2024 DETAILING THE DETAILS OF THE TRANSACTION FOR ITS ACQUISITION OF 19.1454% SHAREHOLDING IN ZHEZESHASHAN SECURITIES. The cross-pricing of this equity transfer is based on the valuation report of Sky Asset Valuation Limited, which uses market law for valuation and takes into account the market value and financial performance of the target company. The valuation puts the valuation of 100% shareholders' equity in the target company at RMB15,826 million. The Board considers that this valuation is objectively fair and in the overall interests of the Company and its shareholders. The announcement also mentions the key assumptions used in the valuation process, including transaction assumptions, open market assumptions, macroeconomic assumptions and continuing operations assumptions. In addition, the announcement also lists the criteria for selecting comparable sell trades and correcting the net market rate. Zhejiang Hengyong stresses that this supplementary announcement should be read in conjunction with the announcement of March 29, 2024, and the other information and contents of the announcement remain unchanged.