LianChuang Electronic Technology Co LtdControlling shareholder change to Shou County Finance Bureau, a state capital platform, with a transfer price of 8.19 yuan per share, indicating a premium and new backing.

Lianchuang Electronic announced on the evening of July 29 that its shares will resume trading on July 30. The controlling shareholder, Jiangxi Xinsheng Investment, plans to transfer over 76.39 million shares to Shou County Xinqiao Commercial Management, an industrial investment platform under the Shou County Finance Bureau, at a transfer price of 8.19 yuan per share, for a total consideration of 630 million yuan. After the transaction, the controlling shareholder will change to Shou County Xinqiao, and the actual controller will become the Shou County Finance Bureau. Jiangxi Xinsheng's stake will drop from 8.66 percent to 1.39 percent, while Shou County Xinqiao will hold 7.27 percent. The company had previously planned for Jiangxi state capital to take over, but the relevant agreement was terminated on July 22, with the Shou County state capital now stepping in as the new controlling party.
LianChuang Electronic Technology Co LtdControlling shareholder change to Shou County Finance Bureau, a state capital platform, with a transfer price of 8.19 yuan per share, indicating a premium and new backing.
Shou County Xinqiao Commercial Management acquires 7.27% stake and becomes controlling shareholder, gaining control of a listed company.
Jiangxi Xinsheng Investment's stake drops from 8.66% to 1.39%, losing control and selling a large portion of shares.