301057.CS
Huilong New Materials' controlling shareholder terminates transfer of 6% company stake to Hangzhou Xingzhen
Huilong New Materials announced on September 30 that Shen Shunhua, the company's controlling shareholder and actual controller, had originally planned to transfer 6% of his company shares to Hangzhou Xingzhen Enterprise Management Partnership, a limited partnership. The two parties signed a Share Transfer Termination Agreement on September 30, agreeing to rescind the Share Transfer Agreement signed on March 4. The announcement stated that the termination of this share transfer was a genuine expression of intent reached through mutual agreement, and will not adversely affect the listed company's normal production and operations or the stability of its equity structure.
301057.CS · Capital · Neutral Controlling shareholder terminated a previously agreed 6% stake transfer to Hangzhou Xingzhen, a capital/ownership event with no stated operational impact.