According to Zhitong Financial App, Hanshang Group (600774.SH) announced that the company intends to purchase 100% of the shares of Zheng An Industrial from Zhuoer International Business Management and Zheng An Cayman by issuing shares; it plans to invest in purchasing the “operating assets of the Wuhan Living Room Project” held by Zhuoer City by issuing shares and paying cash. The transactions described above constitute a major asset restructuring (“this transaction” or “this restructuring”).
On August 22, 2023, the company held the 12th meeting of the 11th board of directors to deliberate and pass the bill relating to this transaction. Following the application, trading of the company's shares has resumed since the opening of the market on August 23, 2023.