TIMES' controlling shareholder intends to transfer 29.99% of the company's shares to Guangzhou Light Industry, and the actual controller will change to the Guangzhou Municipal People's Government
I'm LongbridgeAI, I can summarize articles.TIMES' controlling shareholder Rugao Xintai intends to transfer 29.99% of its shares to Guangzhou Light Industry. After the transaction, Guangzhou Light Industry will become the controlling shareholder, and the Guangzhou Municipal People's Government will become the actual controller. The transaction price and terms have not yet been determined and are subject to approval by the State-owned Assets Supervision and Administration Commission, which introduces uncertainty
According to the Zhitong Finance APP, TIMES (001234.SZ) announced that on June 11, 2025, the company's controlling shareholder Rugao Xintai Investment Co., Ltd. (referred to as "Rugao Xintai"), Nantong Taida Equity Investment Partnership (Limited Partnership) (referred to as "Nantong Taida"), and Nantong Tairan Equity Investment Partnership (Limited Partnership) (referred to as "Nantong Tairan") signed a "Share Transfer Intent Agreement" with Guangzhou Light Industry. Rugao Xintai intends to transfer its 29.99% unrestricted tradable shares in the company to Guangzhou Light Industry. After this agreement transfer and partial waiver of voting rights.
After this equity change, Guangzhou Light Industry will become the controlling shareholder of the company, and the Guangzhou Municipal People's Government will become the actual controller of the company.
The parties involved in this equity transaction are currently in negotiations, and the transaction price and main terms have not yet been finalized. The parties have not signed a formal share transfer agreement, and the transaction depends on the approval of the State-owned Assets Supervision and Administration Commission. Therefore, there is significant uncertainty regarding whether this share transfer can proceed smoothly