ZTG(SZ:000430) Xin Lang Cai Jing·2025-12-26 22:04Core Viewpoint - Zhangjiajie Tourism Group Co., Ltd. is progressing with its capital reserve conversion plan as part of its restructuring, with stock resumption scheduled for December 29, 2025 [2][5]. Group 1: Capital Reserve Conversion Progress - The company has completed the conversion of 404,817,686 shares, increasing its total share capital from 404,817,686 shares to 809,635,372 shares [3][13]. - Of the converted shares, 366,000,000 are restricted shares post-initial public offering, and 38,817,686 are freely tradable shares [3][14]. - The converted shares are registered in a special account for the bankruptcy asset disposal of Zhangjiajie Tourism Group [3]. Group 2: Stock Resumption and Price Adjustment - The company's stock will resume trading on December 29, 2025, after being suspended on December 26, 2025, for the capital reserve conversion [5][17]. - The closing price on the last trading day before the suspension was 7.90 yuan per share, which is higher than the average conversion price of 5.84 yuan per share, leading to an adjusted opening reference price of 6.87 yuan per share on the resumption date [2][10][22]. Group 3: Restructuring Plan Approval - The restructuring plan has been approved by the court, allowing the company to enter the execution phase of the plan [11][12]. - The restructuring plan includes provisions for converting capital reserves into shares, with specific allocations for debt repayment and attracting investors [14][21].