According to the Zhitong Finance App, China Huaxing (00485) announced that on the date of this announcement, after the director made all reasonable inquiries to the successor, as the directors knew, the successor was looking for potential buyers of the staked shares and had already discussed the main terms of the sale of the backed shares with several potential buyers, subject to further negotiations and various internal procedures of the successor.
As of the date of this announcement, the successor has not entered into any legally binding agreement. Other than those mentioned above, the company has not received any news or further development information relating to the deposit of shares.