Guangdong Golden Dragon completes key asset restructuring

Guangdong Golden Dragon Development (SZSE:000712) has successfully completed the transfer of 300 million shares, or 20%, of Dongguan Securities to a consortium led by Dongguan Financial Holdings Group and Dongguan Development Holdings. This milestone follows the China Securities Regulatory Commission's (CSRC) approval for the change of Dongguan Securities' primary shareholders. The transaction, initially disclosed on November 4, 2023, and detailed in subsequent progress reports throughout 2023 and 2024, is classified as a significant asset restructuring under relevant regulations.