Core Viewpoint - Anhui Wanwei High-tech Materials Co., Ltd. has decided to terminate the plan for a private placement of A-shares to specific investors due to strategic restructuring of its controlling shareholder, Wanwei Group, and current market conditions [1][2][3] Group 1: Termination of A-share Issuance - The company announced the termination of the A-share issuance plan after discussions and analysis of the current market environment and its development strategy [1] - The planned fundraising amount was not to exceed 300 million yuan, intended for repaying state funds and supplementing working capital [1][2] - The issuance was initially aimed at the controlling shareholder, Wanwei Group, which is also an associated party, thus constituting a related party transaction [2][3] Group 2: Shareholding Structure - As of the announcement date, Wanwei Group held 33.55% of the company's shares, making it the controlling shareholder, with the Anhui Provincial State-owned Assets Supervision and Administration Commission as the actual controller [3] - Following the planned issuance, Wanwei Group's shareholding would have increased to 35.83%, maintaining its status as the controlling shareholder [3] - Wanwei Group committed to not transferring the shares acquired in this issuance for 36 months post-issuance, pending approval from the general meeting of shareholders [3] Group 3: Regulatory Compliance - The issuance plan required approval from various regulatory bodies, including the State-owned Assets Supervision and Administration Commission, the company's general meeting of shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [3]
皖维高新终止不超3亿定增 控股股东正在实施战略重组