Yicheng New Energy fails to sell Hengrui stake first try

Henan Yicheng New Energy (SZSE:300080) announced that its initial public listing for the transfer of 100% equity in Kaifeng Hengrui New Diamond Products Co., Ltd. did not attract any qualified bidders. The initial listing had a reserve price of CNY 1. The company plans to proceed with a second public listing of the equity. Yicheng New Energy advises investors that the relisting still carries the risk of failure and uncertainty regarding the final counterparty and transaction price.