RiseSun stays course on asset acquisition, funding plan

RiseSun Real Estate Development (SZSE:002146) announced it is continuing to advance its planned acquisition of assets through share issuance and related fundraising activities, as initially outlined in its preliminary plan disclosed on June 17, 2023. The target assets include a 68.39% stake in Rongcheng Mengguli New Energy Technology Co., Ltd., valued at CNY 331,668,220.00. The company also aims to acquire smaller stakes held by other entities, including Beijing Rongweitong Investment Management Partnership, He Qing, Zhou Wei, Tianjin Rui Fan, Tianjin Keqi. The company will continue to proceed with audit, evaluation and legal procedures. The company reiterated that the transaction is still subject to regulatory approvals, shareholder votes and market conditions, urging investors to exercise caution.