Zhong Guo Jing Ji Wang·2026-02-06 08:04Core Viewpoint - The Shenzhen Stock Exchange's M&A Review Committee approved Qingdao Doublestar Co., Ltd.'s transaction to acquire assets through share issuance and cash payment, which meets restructuring conditions and information disclosure requirements [1][2]. Group 1: Transaction Details - Qingdao Doublestar plans to issue shares and pay cash to acquire assets, ultimately achieving a 45% stake in Kumho Tire Co., Inc. and controlling it [2][3]. - The total transaction price for the restructuring is approximately 4.93 billion yuan, with 99.94% paid in shares and 0.06% in cash [4][8]. - The independent financial advisor for the transaction is China International Capital Corporation [9]. Group 2: Financial Assessments - As of December 31, 2023, the assessed value of the total equity of the target assets is approximately 492.52 million yuan for Star Investment Fund and 493.01 million yuan for Star Micro International [4]. - A subsequent assessment as of June 30, 2025, indicated an increase in value for both Star Investment Fund and Star Micro International, with appreciation rates of 43.33% and 57.74%, respectively [5]. Group 3: Performance Commitments - The performance commitments for the target company include net profits of 226.89 billion won, 243.74 billion won, and 239.42 billion won for the years 2026 to 2028 [6]. Group 4: Funding and Regulatory Requirements - The company plans to raise up to 80 million yuan through a private placement to fund the transaction, with specific limits on the amount raised from individual investors [7]. - The transaction requires approval from the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission before implementation [2][7][8].