SDSL plans to purchase gas-related assets controlled by its controlling shareholder and related parties, stock suspension
SDSL announced that it is planning to acquire gas-related assets controlled by its controlling shareholder and related parties, involving equity in multiple companies. This transaction constitutes a related party transaction and is expected to be a significant asset restructuring, but it will not result in a change of actual controller. Due to uncertainty, the company's securities will be suspended from trading starting October 28, 2025, and the transaction plan is expected to be disclosed within 10 trading days
According to the Zhitong Finance APP, SDSL (000407.SZ) announced that the company is planning to issue shares and pay cash to acquire gas-related assets controlled by the company's controlling shareholder and its affiliates and to raise matching funds (the "Transaction"). The transaction targets include 100% equity of China National Petroleum Gas Investment Group Co., Ltd. ("China National Investment") held by China National Petroleum Gas (Zhuhai Hengqin) Co., Ltd. ("China National Zhuhai"), 100% equity of Tianda Litong New Energy (Zhuhai) Co., Ltd. ("Tianda Litong") held by Tianda Shengtong New Energy (Zhuhai) Co., Ltd. ("Tianda Shengtong"), as well as 51% equity of Nantong China National Petroleum Gas Co., Ltd. ("Nantong China National") held by China National Zhongtai Gas Investment Group Co., Ltd. ("China National Zhongtai") and 40% equity of Qinghai China National Ganhe Industrial Park Gas Co., Ltd. ("Ganhe China National").
Among them, Tianda Shengtong indirectly controls 40% equity of Ganhe China National and 49% equity of Nantong China National through its subsidiary China National Petroleum Gas (Zhuhai) Investment Co., Ltd. ("Zhuhai Investment"). Therefore, after the completion of this transaction, the company will hold a total of 100% equity of China National Zhuhai and 100% equity of Tianda Shengtong, controlling a total of 80% equity of Ganhe China National and 100% equity of Nantong China National.
It is reported that this transaction constitutes a related party transaction and is expected to constitute a major asset restructuring. This transaction will not lead to a change in the actual controller of the company and does not constitute a restructuring listing. Due to uncertainties regarding the relevant matters, upon the company's application, the company's securities will be suspended from trading starting from October 28, 2025 (Tuesday); the company expects to disclose the transaction plan within no more than 10 trading days
