Zhitong Finance App News, Shunlong Holdings (00361) issued an announcement. After closing on January 22, 2024, the board of directors of the company received a letter stating that Su Jieyi and Liu Yunwen of Ernst & Young Corporate Financial Services Limited were appointed as joint and individual receivers (takeover procedure) on January 22, 2024 to take over: (1) 2,861 billion shares of the company's shares (equivalent to approximately 55.01% of the company's issued share capital at the date of this announcement); and (2) convertible bonds issued by the company with a total principal amount of HK$74.1 million (Collectively referred to as “Charged Assets”).

According to reports, the receiver was appointed by Wise Choice Ventures Limited (appointee) in accordance with the charge set up by Jinhang Limited (Plenty Choice) on April 24, 2017 as a chargeant. All of Plenty Choice's interest and all rights, title and interest under this charge were subsequently transferred to the appointee in accordance with the transfer agreement between Plenty Choice and the appointee on March 16, 2020.

According to publicly obtained information, the appointee is an indirect subsidiary of China Huarong Asset Management Co., Ltd. (02799).

As of the date of this announcement, Jinhang is the controlling shareholder of the company and holds 2,861 million shares (equivalent to approximately 55.01% of the company's issued share capital) and convertible bonds with a total principal amount of HK$74.1 million (after being converted or converted to up to 650 million shares). Assuming that all convertible bonds held by Golden Airlines have been converted into shares, the total shares held by Golden Airlines will be equivalent to about 60% of the company's issued share capital. Huang Youlong is the sole ultimate beneficial shareholder and sole director of Jinhang, and indirectly holds 100% of Jinhang's issued share capital through its wholly-owned company Changsheng Co., Ltd.

As of the date of this announcement, the receiver has not commenced solicitation for encumbered assets or made contact with interested buyers.