Qilianshan listed company will transform into engineering design consulting business!

Byzengjiaming12

Updated Thu, 19 May 2022 10:49:53 GMT

On the evening of May 11 on the evening of May 11, Qilianshan announced that the listed company intends to dispose of all its assets and liabilities as of the base date of assets evaluation and exchange them with the equivalent portion of the 100% equity of the Public Planning Institute, the 100% equity of the First Public Institute and the 100% equity of the Second Public Institute under China Communication Construction and the 100% equity of the Southwest Institute, the 100% equity of the Northeast Institute and the 100% equity of the Energy Institute under China Urban and Rural Group. At the same time, the listed company intends to issue shares to CCCC and CURG at a price of RMB10.62 per share to purchase the difference between the acquired assets and the disposed assets. In addition, the Company intends to raise matching funds through a non-public offering of shares. As of the date of signing this summary of the proposal, the audit and evaluation of the assets to be transferred and the assets to be disposed have not been completed. Through this transaction, the Public Planning Institute, the First Public Institute, the Second Public Institute, the Southwest Institute, the Northeast Institute and the Energy Institute will become wholly-owned subsidiaries of the listed company, and the listed company will withdraw from the cement industry and will engage in engineering design consulting business in the future. The controlling shareholder of the listed company will be changed to CCCC, and the actual controller will be changed to CCCC Group, and the transaction is expected to constitute a reorganization of the listing company. Trading of the Company's shares will resume from the opening of the market on 12 May 2022.