On July 23rd, Gelun Hui announced that the board of directors of Shinelong (01930.HK) had been informed by the company's controlling shareholder, Shine Art International Limited (Shine Art), that it had redeemed the 454 shares of issued shares held by Mr. Zhang Ruijun on July 23, 2024. Prior to redemption, besides being a shareholder of Shine Art, Mr. Zhang Ruijun had no relationship with the company.
The redeemed shares will be held by Shine Art as inventory shares. The redemption only involves Shine Art's shares. Shine Art is still the company's controlling shareholder, holding 49.125% of shares before and after the redemption is completed.
