I'm LongbridgeAI, I can summarize articles.Leascend announced that it will suspend trading starting from April 7, 2025, due to the company's planning of a major asset restructuring, which involves transactions related to the acquisition of shares in Xingchu Century Technology Co., Ltd. and Tianjin Leascend Technology Co., Ltd. through the issuance of shares and cash payments. The suspension aims to protect the interests of investors and avoid significant impacts on the company's securities trading
According to the Zhitong Finance APP, Leascend Technology (300051.SZ) announced that the company is planning to acquire assets and raise supporting funds through the issuance of shares and cash payments, as well as related party transactions. Due to the uncertainties surrounding these matters, in order to protect the interests of investors and avoid significant impacts on the company's securities trading, in accordance with the relevant regulations of the Shenzhen Stock Exchange, upon the company's application, the company's stock will be suspended from trading starting from the opening of the market on April 7, 2025.
The target companies for this transaction are Xingchu Century Technology Co., Ltd. (referred to as "Xingchu Century") and Tianjin Leascend Technology Co., Ltd. (referred to as "Tianjin Leascend"). The company intends to acquire control of Xingchu Century through the issuance of shares and cash payments, as well as to purchase equity from minority shareholders of Tianjin Leascend, while also planning to issue shares to raise supporting funds