Core Viewpoint - Shunlong Holdings (00361) experienced a significant increase in stock price, opening nearly 14% higher and currently trading at 0.049 HKD, with a transaction volume of 19,600 HKD. This surge follows the announcement of a major transaction involving the sale of shares and convertible bonds to Han Cheng Energy Group [1] Group 1: Transaction Details - The receiver sold 2.601 billion shares and convertible bonds with a principal amount of 74.1 million HKD to an independent third party, Han Cheng Energy Group, for a total consideration of approximately 93.34 million HKD [1] - Following the completion of this transaction, the offeror will hold 50.11% of the company's equity and is required to make a mandatory general offer at a cash price of 0.029 HKD per share, representing a discount of 32.56% compared to the previous closing price [1] Group 2: Offeror Information - The offeror, Han Cheng Energy Group, is a wholly-owned subsidiary of a company established in China, primarily engaged in clean energy development, vehicle manufacturing, and environmental sanitation services [1] - Han Cheng Energy Group is owned by Mr. Liu Jincheng and Mr. Liu Gang, holding 80% and 20% equity respectively [1] - The offeror intends to maintain the shares listed on the Hong Kong Stock Exchange after the offer period ends [1]

Group 1 - The offeror, DoThink Investment Limited, plans to acquire 2.6012 billion shares of Shunlong Holdings, representing approximately 50.011% of the company's total issued share capital, for a total cash consideration of about HKD 74.67985 million, equating to approximately HKD 0.029 per share [1] - The offer also includes convertible bonds with a total principal amount of HKD 74.1 million, which can be converted into 650 million shares at an adjusted conversion price of HKD 0.114, with a cash consideration of HKD 18.66135 million [1] - The total consideration for the acquisition amounts to approximately HKD 93.3412 million, and following completion, the offeror and its concert parties will own a total of 2.6012 billion shares, representing about 50.011% of the company's total issued share capital [1] Group 2 - The offeror is a wholly-owned subsidiary of Han Cheng Energy Group, which is primarily engaged in clean energy development, vehicle manufacturing, and environmental sanitation services [2] - Han Cheng Energy Group is owned by Mr. Liu Jincheng and Mr. Liu Gang, holding 80% and 20% equity interests, respectively [2] - The offeror intends to maintain the shares listed on the Stock Exchange after the offer deadline and has no intention to exercise any power to compulsorily acquire any outstanding shares post-offer [2]