Core Viewpoint - The acquisition report outlines the acquisition of Kewah Holdings Co., Ltd. by Lu Hongping and Tu Han, aiming to gain control over the company and enhance its operational management and competitiveness [1][6][10]. Group 1: Acquisition Details - The acquisition involves Lu Hongping and Tu Han acquiring a total of 17,846,140 shares from Shanghai Jingyou, representing 9.18% of the company's total shares before the issuance [11]. - Tu Han will also acquire 13,608,539 shares from Chen Hongmin and his associates, which accounts for 7.00% of the total shares before the issuance [11]. - The acquisition is structured in two phases, with the first phase already signed and the second phase planned for completion by March 31, 2026 [10][11]. Group 2: Shareholding Changes - Following the completion of the first phase, Lu Hongping's shareholding will increase to 23,794,805 shares (12.24%), while Tu Han will hold 14,383,234 shares (7.40%) [9][10]. - After the second phase, the combined shareholding of Lu Hongping and Tu Han will rise to 47,944,112 shares, representing 24.66% of the total shares before the issuance [10][11]. - Post the planned issuance of 30,000,000 new shares, Lu Hongping and Tu Han's combined shareholding is expected to increase to 34.73% [11][13]. Group 3: Regulatory Compliance - The acquisition requires compliance with various regulatory approvals, including those from the Shanghai Stock Exchange and the China Securities Regulatory Commission [2][8]. - The report emphasizes that the acquisition's completion timeline is uncertain and dependent on obtaining necessary approvals [2][8]. Group 4: Purpose of Acquisition - The primary purpose of the acquisition is to gain control over Kewah Holdings and to enhance its operational management, thereby supporting long-term and healthy development [6][10]. - The acquirers have no immediate plans to increase or dispose of their shares within the next 12 months, barring any significant changes [6].
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