Gelonghui November 23 丨Hanhua Financial Holdings (03903.HK) announced,The board of directors of the company was informed by 13 company managers including Longxin Group Co., Ltd., that the Fifth Intermediate People's Court of Chongqing issued a ruling on November 21, 2022, and approved the “Substantial Merger and Reorganization Plan for 13 Companies Including Longxin Group Co., Ltd.”

According to the restructuring plan, 432,188,780 domestic stock shares of the company held by Longxin Holdings Co., Ltd. (accounting for about 9.4% of the company's total share capital) will be paid to the corresponding creditors according to the corresponding ratio of claims after 13 companies including Longxin Group Co., Ltd. have completed settlement of the corresponding creditors and satisfied the conditions stipulated in the restructuring plan. The execution period of the restructuring plan is within 12 months from the date of approval of the Fifth Intermediate People's Court of Chongqing. At that time, Longxin Holdings Co., Ltd. will withdraw from the company's shareholder register, and there will be no impact on the company's daily operations.