Summary by Futu AI
SIMMOR INTERNATIONAL HOLDINGS LIMITED (THE “COMPANY”) ANNOUNCED ON MAY 21, 2024 THAT EVE BATTERY INVESTMENT LTD. AS ITS CONTROLLING SHAREHOLDER. (“EVE BATTERY”) HAS INFORMED THE COMPANY THAT EVE BATTERY'S PARENT COMPANY, YIWEI ASIA LIMITED, HAS REPAID ALL OUTSTANDING LOAN FINANCING GRANTED BY CHINA CONSTRUCTION BANK (ASIA) CO., LTD. (“CONSTRUCTION ASIA”). AS A RESULT, APPROXIMATELY 3.0 BILLION SHARES OF EQUITY COMPANY (REPRESENTING APPROXIMATELY 4.89% OF THE COMPANY'S ISSUED SHARE CAPITAL) HELD BY EVE BATTERY HAVE BEEN DEMOBILIZED PURSUANT TO A RELATED PLEDGE AGREEMENT WITH CONSTRUCTION ASIA. THIS MOVE SHOWS THAT EVE BATTERY HAS CONFIDENCE IN THE FINANCIAL CONDITION OF THE COMPANY AND MAY HAVE A POSITIVE IMPACT ON THE COMPANY'S STOCK PRICE.