Enjie Co., Ltd. received a letter of concern: requesting clarification on the rationality and necessity of acquiring Shanghai Enjie minority shares at a higher premium at the present time from related parties

Breakings ·  10/03 09:31
The Shenzhen Stock Exchange announced on September 30 that it issued a letter of concern about Enjie shares. The company disclosed the “Notice Concerning the Acquisition of Minority Shareholding Subsidiaries and Related Transactions”, stating that the company intends to use 2,613 billion yuan in cash to acquire 4.78% of the shares of Shanghai Enjie New Materials Technology Co., Ltd. (“Shanghai Enjie” for short) from related parties Yan Ma and Alex Cheng. After the transaction is completed, Shanghai Enjie will become a wholly-owned subsidiary of the company. The letter of concern requested the company to explain the reasons and rationality of the large difference between the assessed value-added rate and transaction price of this transaction and the historical transaction; it also explained the rationality and necessity of purchasing a minority share of Shanghai Enjie from related parties at a higher premium at the current time, and whether there are any circumstances that harm the interests of listed companies and small and medium-sized investors. Explain whether the funding and payment arrangements for this transaction are leveraged, whether they may put financial pressure on your company's daily operations, and whether they may cause liquidity risks.

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