The substantial controller of Valin's major asset restructuring company will change

On April 18, Valin Xingma Automobile (Group) Co., Ltd. announced the announcement of major asset restructuring progress. According to the announcement, the relevant parties communicated that the counterparty to this major asset reorganization was a third party. The specific counterparty has not yet been finalized, and the actual controller of the company is expected to change before and after major asset reorganization. The major asset restructuring transaction is the purchase of assets for the issuance of shares, but it has not yet been finalized.

The reporter learned that the shares of Valin Xingma Co., Ltd. began to be suspended from March 2, 2017, and the "Material Asset Restructuring Suspension Notice" was suspended on March 16, 2017. In addition, the “Announcement of Major Asset Restructuring Progress” was published on March 23, 2017 and March 30, 2017 respectively. On April 1, 2017, the “Announcement of Suspension of Suspension of Major Assets Reorganization” was published. Since April 2, 2017, the suspension has been continued. It is expected that the suspension of trading time will not exceed one month.

It is reported that the assets of the major assets reorganization target were initially identified as commercial vehicles and construction machinery industry, but have not yet been finalized. As of today, the major asset restructuring of Valin Xingma is still under planning.