Summary · why it matters
Xintian Technology surged by the 20 percent daily limit again on August 6, closing at 18.02 yuan per share and marking its fourth consecutive trading day at the upper limit. The move follows the company's disclosure on the evening of August 2 of a control change plan. Liu Yang, the actual controller of Donson Marketing Technology, plans to acquire 43.4224 million shares held by Shi Weiping and other shareholders through Shenzhen Yuanqi Wuxian Technology Partnership, representing 22.5 percent of the company's total share capital, at a premium of 90 percent. After the transaction, Shenzhen Yuanqi will become the controlling shareholder and Liu Yang will become the actual controller. Shenzhen Yuanqi has also committed to increasing its stake by no less than 5 percent within 12 months after the share transfer, in order to maintain a holding gap of more than 7 percent with Shi Weiping. Donson Marketing Technology is engaged in AI marketing and has twice failed in its bid to list on the Hong Kong Stock Exchange. Liu Yang previously worked at Huawei.