Hongchuang Aluminum plans asset restructuring, shareholder vote approaching

Shandong Hongchuang Aluminum Industry Holding (SZSE:002379) has announced that it will hold its first Extraordinary General Meeting of Shareholders in 2025 on June 9th to vote on resolutions related to a major asset restructuring. Key proposals include the issuance of shares to acquire assets and related party transactions, as detailed in the company's report. Shareholders will also vote on seeking an exemption for Shandong Weiqiao Aluminum and Electricity Co., Ltd. from making a tender offer to increase its stake in the company. Additionally, there will be a vote on the change of accounting firm. The resolutions specify an intent for shareholders to adopt a three-year shareholder return plan (2025-2027). The company has also completed an internal investigation regarding stock trading by related parties during the period leading up to the announcement. The investigation concluded that the trading activity of investment firms involved in the deal did not constitute insider trading.