Intraday once rose limit up triggering abnormal movement, Ningbo Cixing (300307.SZ) intends to issue additional shares to purchase the controlling stake in Wuhan Minsheng. The stock will be suspended on January 15th.

Ningbo Cixing (300307.SZ) announced that the company is planning to issue shares, pay cash to purchase assets, and raise matching funds. Due to uncertainties related to the matter, in order to protect the interests of investors and avoid significant impacts on the company's securities trading, in accordance with relevant regulations of the Shenzhen Stock Exchange, the company's securities will be suspended from trading starting from the opening of the market on January 15, 2025. The target company of this transaction is Wuhan Minsheng New Technology Co., Ltd. (referred to as "Wuhan Minsheng"). The transaction will involve the issuance of A shares by the company, payment of cash to acquire controlling interest in Wuhan Minsheng, and simultaneous raising of matching funds. The transaction will not result in a change in the actual controller of the company. There are uncertainties in the transaction, and the specific transaction method and scheme will be based on the information disclosed in the subsequent restructuring plan or restructuring report.