On June 14th, GeLong Hui announced that it plans to merge all equity and related debt assets of Yisheng Maji Investment Development Co., Ltd. (hereinafter referred to as 'Yisheng Maji', the company's wholly-owned subsidiary) into an asset package (i.e.: Hainan Supply and Marketing Grand Market Supply Chain Holdings Co., Ltd. and Tianjin Ninghe Haihang Real Estate Investment Development Co., Ltd. hold all the equity of Yisheng Maji, and Tianjin Ninghe Haihang Real Estate Investment Development Co., Ltd. holds other receivables from Yisheng Maji) for public listing and transfer of ownership.
According to the authorization of the board of directors, the first round of information disclosure for the public listing and transfer of ownership was conducted from April 25, 2024 to May 23, 2024 at Shanghai United Property Exchange Limited, with a reserve price of 100 million yuan for the asset package, including a reserve price of 99.2 million yuan for the transfer of 99.2% equity in Yisheng Maji, and a reserve price of 800,000 yuan for the transfer of 0.8% equity and 490,906,262.61 yuan in debt from Yisheng Maji. No intended transferees were solicited by the end of the announcement period. The second round of information disclosure for public listing and transfer of ownership was conducted from May 28, 2024 to June 11, 2024, also at Shanghai United Property Exchange Limited, with a reserve price of 20 million yuan for the asset package, including a reserve price of 19.84 million yuan for the transfer of 99.2% equity in Yisheng Maji, and a reserve price of 160,000 yuan for the transfer of 0.8% equity and 490,906,262.61 yuan in debt from Yisheng Maji.
On June 13th, 2024, the company received a 'Notice of Transfer Qualification Feedback' from Shanghai United Property Exchange Limited, which means that one intended transferee, Liaoning Zhonghe Qihang Marine Product Industry Development Co., Ltd. (hereinafter referred to as 'Liaoning Zhonghe Qihang'), was found at the end of the announcement period. Hainan Supply and Marketing Grand Market Supply Chain Holdings Co., Ltd., a subsidiary of the company, and Tianjin Ninghe Haihang Real Estate Investment Development Co., Ltd. will send a 'Notice of Confirmation of Qualification Opinion for Intended Transferees' to Shanghai United Property Exchange Limited and sign a related property transaction contract with Liaoning Zhonghe Qihang.
Liaoning Zhonghe Qihang and the company's controlling shareholder Beijing Zhonghe Agricultural Credit Enterprise Management Consulting Co., Ltd. are under the same control, which constitutes a related party transaction as stipulated in Chapter 3, Section 6 of the 'Shenzhen Stock Exchange Stock Listing Rules (Revised in 2024)'.