Yinglite announced on the evening of August 27 that its controlling shareholder, Yinglite Group, plans to transfer 155,322,687 shares, representing 39.41% of the company's total share capital, through a public solicitation of transferees by agreement. This matter may lead to a change in the company's controlling shareholder and actual controller. Yinglite Group currently holds 182,636,494 shares, or 46.34% of the total share capital, and will still hold 6.93% after the transfer. The transfer price will be no lower than the higher of the average trading price over the 30 trading days before the announcement date and the net asset value per share over the most recent year, with the final price subject to public solicitation and approval by the state-owned assets regulatory authority. Trading in the company's shares will be suspended from August 28, expected to last no more than two trading days. Notably, the number of shares proposed for transfer is the same as the amount planned in 2016-2017, when the transaction was not completed.
Ningxia Younglight Chemicals Co LtdControlling shareholder plans to transfer 39.41% stake, potentially changing control; outcome uncertain.
