CITMS: Planning to acquire 100% equity of Xinghe Power, trading suspension continues on March 17
I'm LongbridgeAI, I can summarize articles.CITMS announced that it is planning to acquire 100% equity of Xinghe Power, intending to do so through the issuance of shares and cash payment, while raising supporting funds. Due to the uncertainty of the transaction, the company's stock will continue to be suspended from trading starting March 17, 2025, with the suspension expected to last no more than 5 trading days
According to the Zhitong Finance APP, CITMS (688038.SH) announced that the company is planning to acquire 100% equity of Xinghe Power (Beihai) Technology Co., Ltd. through the issuance of shares and cash payment, and to raise matching funds. The company's stock has been suspended from trading since March 10, 2025.
As of the date of the announcement, all relevant parties are actively promoting various aspects of this transaction. The company expects that it will not be able to resume trading at the opening on March 17, 2025 (Monday) morning. Given the uncertainties surrounding this transaction, in order to ensure fair information disclosure, protect investor interests, and avoid significant impacts on the company's stock price, according to the relevant regulations of the Shanghai Stock Exchange, upon the company's application, the company's stock will continue to be suspended from trading starting from the opening on March 17, 2025 (Monday) morning, with the expected suspension period not exceeding 5 trading days