Jingwei Co. Resumes Trading with 20% Limit-Up After Control Change; Shanghai Yahong Swings Wildly to Close Lower

Corporate ActionPrice Action
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Summary · why it matters

Jingwei Co., which had been planning a change of control, resumed trading today and immediately hit the 20% daily limit-up. According to Jingwei Co.'s announcement last night, China Software Xi'an plans to acquire a 29.68% stake in Jingwei Co. through a negotiated transfer, with a transfer price of 944 million yuan, or 53 yuan per share, a premium of about 41% over the pre-suspension closing price of 37.50 yuan per share. After the transfer is completed, China Software Xi'an will become the company's controlling shareholder. Shanghai Yahong, which was also suspended pending a planned change of control, resumed trading today, with the stock price swinging wildly during the day, first hitting the limit-up, then the limit-down, then surging straight up to approach the limit-up, before falling back in the afternoon to close lower. Shanghai Yahong announced yesterday that its controlling shareholder will change from Hainan Ningsheng Tourism Group Co., Ltd. to Feike Investment, and the actual controller will change from Sun Lin to Li Gaiteng. Li Gaiteng is the actual controller of the A-share listed company Feike Electric. Wind data shows that since September, 14 stocks have resumed trading. Among them, Yinglite and Huachang Chemical both hit the limit-up after resuming trading. Youcai Resources, which is set to change ownership to Jiangyin state-owned assets, opened higher and closed lower on the day of resumption, falling more than 8%. ST Fuhuang, which was given another risk warning, hit the limit-down after resuming trading. Longban Media, a big bull stock with six consecutive limit-ups, posted two limit-downs after resuming trading.

Impact on stocks 8

Others · 8 stocks
Shanghai Yahong Moulding Co Ltd
603159
± MixedCapitalrelevance

Shanghai Yahong resumes trading after control change to Feike Investment; shares swung wildly and closed lower, a mixed reaction to the ownership change.

Off-coverage companies 3

中软国际(西安)智能科技有限公司Private▲ Positive
Capitalrelevance

China Software Xi'an plans to acquire a 29.68% stake in Jingwei Co. for 944 million yuan, becoming its controlling shareholder.

Hainan Ningsheng Tourism Group Co., Ltd.Private▼ Negative
Capitalrelevance

Hainan Ningsheng Tourism Group ceases to be Shanghai Yahong's controlling shareholder as control transfers to Feike Investment.

Shanghai Feike Investment Co., Ltd.Private▲ Positive
Capitalrelevance

Shanghai Feike Investment becomes the new controlling shareholder of Shanghai Yahong.