Core Viewpoint - The announcement highlights a change in the shareholding status of RuYi Group, with all shares held by the controlling shareholder and its concerted parties being frozen, totaling 50.83 million shares or 19.42% of the company's total equity [1] Group 1: Shareholding and Freezing Status - As of the announcement date, all shares held by the controlling shareholder, Shandong RuYi Technology Group Co., Ltd., and its concerted parties are frozen, amounting to 50.83 million shares, which represents 19.42% of the total share capital [1] - The shares frozen include 30.51 million shares originally frozen by the Wuhan Intermediate People's Court, which are set to be released on April 5, 2025, but will be subject to a subsequent freeze by the Qingdao Intermediate People's Court effective the next day [1] - Additional shares have been subjected to provisional freezing by various courts, with a total of 30.51 million shares frozen by the Wuxi Intermediate People's Court and Wuhan Intermediate People's Court, along with 1.05 million shares and 112.38 thousand shares frozen by other courts, all with a 36-month freeze period [1][2] Group 2: Debt Crisis and Resolution Efforts - The freezing of shares is linked to a prolonged debt crisis faced by the controlling shareholder, with all financial debts amounting to 7.5 billion yuan overdue and 3.1 billion yuan in public market bonds in default [2] - To address the debt risks, a debt resolution plan has been developed with support from local government and provincial debt committees, which includes debt write-offs, debt-to-equity swaps, and asset restructuring [2] - Significant progress has been made in debt resolution, with 4 billion yuan of the 7.5 billion yuan bank debt written off, and ongoing negotiations with bondholders regarding the 3.1 billion yuan bonds to reach feasible settlement plans [2] Group 3: Company Operations and Governance - The company asserts that there are currently no non-operational fund occupations or illegal guarantees that would harm the company's interests, and the changes in equity will not affect its operations, control, or governance [3] - The controlling shareholder and concerted parties are actively negotiating with creditors to lift the share freeze, and the company will continue to monitor developments and fulfill disclosure obligations [3] - The company has emphasized the importance of monitoring the credit status of the controlling shareholder and the risks associated with share pledges and freezes, ensuring proactive risk assessment and management [3]
如意集团控股股东持股冻结调整 债务化解持续推进