Packaging / Advertising & Office

According to Huacheng Import and Export Data Observation, after more than five months of preparation, Chenming Paper decided to cancel a transaction that had limited impact on the company's performance.

On June 29, Chenming Paper held the eighth interim meeting of the tenth board of directors and the fourth interim meeting of the tenth board of supervisors, reviewed and passed the relevant Proposal, decided to terminate the relevant transactions, signed the relevant termination agreement with the counterparty as needed, and applied to the Shenzhen Stock Exchange to withdraw the relevant application documents for this transaction, Huacheng Import and Export Data Observation Report.

The relevant acquisitions involved in the proposal were officially disclosed at the beginning of this year. According to the Huacheng Import and Export Data Observation Report, on January 20, Chenming Paper announced a trading plan that the company planned to acquire 1.19% equity of Shouguang Meilun held by Dongxing Securities Investment Co., Ltd. (hereinafter referred to as Dongxing Investment) and 44.44% Limited partnership shares of Chenrong Fund held by Chongqing International Trust Co., Ltd. by issuing shares, Shandong Chenming Investment Co., Ltd., a wholly-owned subsidiary of Chenming Paper, originally planned to acquire 0.22% of the general partnership shares of Chenrong Fund held by Chenming (Qingdao) Asset Management Co., Ltd. in cash, and Huacheng Import and Export Data Observation Report.

Chenming Paper Industry stated that since the company planned and first announced this transaction, the company has strictly followed the requirements of relevant laws, regulations, and normative documents, actively organized all parties involved in the transaction to promote the restructuring work. However, in view of the great changes in the regulatory policies and environment of the capital market compared with that at the beginning of the restructuring plan, the Board of Directors agreed to terminate the restructuring and apply to the Shenzhen Stock Exchange to withdraw the relevant application documents for the restructuring after careful study and friendly consultation with all parties to the transaction, in combination with the current actual situation of the company.

Chenming Paper said that the company's termination of the restructuring and withdrawal of the application documents were a prudent decision made by taking into account the current capital market regulatory policies and environmental changes, in combination with the company's capital operation, strategic planning and other factors, and there was no situation where the company and related parties should bear the relevant liability for breach of contract. At present, the company's various business operations are normal. The termination of this transaction will not have a significant adverse impact on the company's existing production and business activities and strategic development, and there will be no situation that damages the interests of the company and small and medium-sized shareholders. Huacheng Import and Export Data Observation Report.