On June 11, Wanwei Hi-tech announced that the company received the decision of the Municipal Administration of Supervision on anti-monopoly review forwarded by Conch Group, allowing Conch Group to acquire the shares of Wanwei Group. Conch Group intends to acquire 60% of Wanwei Group's equity through a cash capital increase of nearly 5 billion yuan, indirectly holding 18.24% of Wanwei Hi-Tech; in addition, Anhui Investment Group, Anhui State-controlled Group and Conch Group constitute a concerted actor, and Conch Group holds 33.24% of the voting shares of Wanwei Hi-Tech, which will become the indirect controlling shareholder, and the actual controller is still Anhui SASAC. This matter still needs the compliance review and share transfer of the Shanghai Stock Exchange, and the matter is still uncertain.
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