Gelonghui, January 24丨*ST Xinlian (000620.SZ) announced an indicative announcement on changes in shareholders' rights and proposed changes in controlling shareholders and actual controllers. The reason for this change in equity is the implementation of the “Xinhualian Cultural Tourism Development Co., Ltd. Reorganization Plan” (hereinafter referred to as the “Reorganization Plan”). After the implementation of the “Reorganization Plan” is completed and the shares transferred from the company's capital reserve fund are transferred to the name of the entity designated by the restructuring investor, the controlling shareholder of Xinhualian Cultural Tourism Development Co., Ltd. (hereinafter referred to as “Xinhualian Holdings”) will change from Xinhualian Holdings Co., Ltd. (hereinafter referred to as “Xinhualian Holdings”) to Hunan Tianxiang Yingxin Technology Development Co., Ltd. (hereinafter referred to as “Yingxin Technology”), and the actual controller of the company will be changed from Mr. Fu Jun to Mr. Wang Gengyu.
According to the “Reorganization Plan” and “Reorganization Investment Agreement”, after the equity change is completed, Yingxin Technology, the actual implementing entity of the restructuring investment designated by Beijing Huaruan Yingxin Asset Management Co., Ltd., will hold 1,200,000,000 shares of the company, accounting for 20.44% of the company's total share capital; Xinhualian Holdings will hold 1,175,117,364 shares, accounting for 20.01% of the company's total share capital.
According to the “Reorganization Investment Agreement”, after the restructuring of the company is completed, the number of members of the company's board of directors will be adjusted from 9 to 11, composed of 7 non-independent directors and 4 independent directors. When the restructured board of directors is re-elected, Yingxin Technology will be able to nominate 4 non-independent director candidates and 3 independent director candidates, which is enough to have a significant impact on the company. In summary, after the equity change is completed, the controlling shareholder of the company will be changed from Xinhualian Holdings to Yingxin Technology.
On January 24, 2024, the Beijing First Intermediate Court issued a “Notice of Assistance in Enforcement” [(2023) Beijing 01 broke 389 bis], requesting the relevant securities companies to assist in transferring 1.2 billion company shares in the special account for the disposal of bankrupt corporate assets of Xinhualian Cultural Tourism Development Co., Ltd. to the name of Yingxin Technology. As of the date of this announcement, the above shares are undergoing transfer procedures and have not yet reached the Yingxin Technology Securities account; the change period for Yingxin Technology's shares in the listed company is based on the stock arrival date. After this change in equity, the actual controller of the company will be changed from Mr. Fu Jun to Mr. Wang Gengyu.