Anhui Xingma Motor Co., Ltd. acquires shares of Valin Motor Co., Ltd
The board of directors and all directors of Anhui Xingma Automobile Co., Ltd. guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and integrity of the contents.
Anhui Xingma company held the third meeting of the Fourth Board of directors on November 27, 2009, which deliberated and passed the proposal on the company's purchase of assets by issuing shares and related party transactions. For details, please refer to the company's plan for purchasing assets by issuing shares and related party transactions published on China Securities Journal, Shanghai Securities Journal and the website of Shanghai Stock Exchange on November 30, 2009. The trading of the company's shares was resumed on November 30, 2009. The company now makes an announcement on the stage progress of the matter.
The major asset restructuring plan of the company is that the company plans to provide investment support to Anhui Xingma Automobile Group Co., Ltd., Anhui Investment Group Co., Ltd., Anhui Xingma Venture Capital Co., Ltd., Ma'anshan Fuhua Investment Management Co., Ltd., Zhejiang Huawei Building Materials Group Co., Ltd., Zhejiang Dingyue Investment Co., Ltd., Mr. Shi Zhengfu, Mr. hang Yufu, Mr Mr. Lou Bihe (hereinafter referred to as the "issuing object") issued shares to purchase 100% equity of Anhui Valin Automobile Co., Ltd. held by the issuing object.
At present, the audit and evaluation of the underlying assets involved in this major asset restructuring are in progress. The company and the counterparties are actively cooperating with the relevant intermediaries to speed up the due diligence, audit, evaluation and profit forecast of the underlying assets involved in the restructuring. After the completion of the above work, the company will hold a board meeting again to review the relevant matters of this major asset restructuring. After the board meeting is approved, the notice of convening the general meeting of shareholders will be issued in time.
As for the risk factors and examination and approval matters involved in this major asset restructuring, the company has disclosed in detail in the plan for purchasing assets by issuing shares and related party transactions announced on November 30, 2009, and the company will timely disclose relevant information according to the progress of the restructuring. After the completion of the audit, evaluation and profit forecast audit of the underlying assets involved in the restructuring, the company will hold another meeting of the board of directors to review the specific restructuring plan. The audited financial data, asset evaluation results and audited profit forecast data of the relevant assets will be disclosed in detail at that time. The company reminds investors that the newspapers and periodicals designated by the company for information disclosure are China Securities Journal and Shanghai Securities Journal, and the website designated by the company for information disclosure is the website of Shanghai Stock Exchange. All information of the company's major asset restructuring is subject to the information disclosed in the above-mentioned designated newspapers and websites. Please pay attention to the investment risk.
