FilingReader Intelligence

RiseSun provides update on asset purchase plan

May 9, 2025 at 05:05 AM UTCBy FilingReader AI

RiseSun Real Estate Development (SZSE:002146) has announced an update on its plan to issue shares to purchase assets and raise funds. The company intends to acquire a 68.39% stake in RiseSun MGL New Energy Technology from RiseSun Holdings, alongside smaller stakes from other entities. These include a 3.17% stake from Beijing Rongweitong Investment, a 1.88% stake from Hebei Zhonghong Kaisen Investment and smaller stakes from various other shareholders, totaling a purchase of shares corresponding to a total registered capital contribution of CNY 36,369,561.04. In addition to the asset purchase, RiseSun plans to raise supporting funds through a non-public offering of shares to no more than 35 specific investors. The company noted that the transaction constitutes a related-party transaction but does not qualify as a major asset restructuring. As of the announcement, the due diligence, auditing, and valuation are still ongoing. RiseSun is working towards reconvening the board to discuss the transaction further, but the deal remains subject to approvals from the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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