Summary by Futu AI
On September 20, 2024, Zoomlion announced that its seventh board of directors terminated the plan of restructuring and listing of its subsidiary Hunan Zoomlion Asia Vets Intelligent High-altitude Operation Machinery Co., Ltd. (Zoomlion High-altitude Machinery), based on significant changes in the market environment since the spin-off plan, in order to protect the interests of the company and investors. The spin-off plan had previously been approved by the sixth and seventh board of directors and the shareholders' meeting of the company. The board's decision showed that 4 votes in favor of termination, 0 votes against, and 3 abstentions. In addition, the company will hold a shareholders' meeting on October 9, 2024, to further discuss related matters.