Dangsheng Technology suspension plans to issue shares to purchase assets

SMM Network News: Beijing Dangsheng material Technology Co., Ltd. (hereinafter referred to as "Dangsheng Technology" or "the company") is planning to issue shares to purchase assets, because the relevant matters are still uncertain, in order to protect the interests of investors and avoid a significant impact on the company's share price, according to the relevant regulations of the Shenzhen Stock Exchange, the company's shares have been suspended since the opening of the market on Friday, August 28, 2020. The company expects to disclose the trading plan within no more than 10 trading days.

The company's securities will resume trading on September 11, 2020 at the latest and stop planning related matters, and disclose the main work, progress, impact on the company and follow-up arrangements of the planning matters during the suspension period, fully remind the risks and uncertainties of related items, and undertake not to plan any major asset restructuring for at least one month from the date of disclosure of the relevant announcement.

The basic information of this planning.

Dangsheng Technology will buy a 32.5% stake in Changzhou held by the Mining and Metallurgical Group from a private offering of shares in the Mining and Metallurgical Group. After the completion of the share purchase of this issue, Changzhou Dangsheng will become a wholly owned subsidiary of Dangsheng Technology, and the shareholding proportion of Mining and Metallurgical Group in Dangsheng Technology will be increased.

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