Shanghai Xuerong Bio-Tech shares halted amid control change plans

Trading in Shanghai Xuerong Bio-Technology (SZSE:300511) has been halted starting March 6, 2025, following an announcement that the company's controlling shareholder, Yang Yongping, is planning a change of control transaction. The proposed deal could see a private technology services firm acquire voting rights representing 25.33% of Xuerong's total share capital. The involved parties are currently in discussions regarding the specifics of the transaction, and any agreement will be subject to regulatory approvals. The trading halt, which also affects Xuerong's convertible bonds (123056), is expected to last no more than two trading days, during which the company will provide updates on the matter. Investors are urged to exercise caution due to the uncertainties surrounding the transaction.