Wanxiang Qianchao provides update on major asset restructuring

Wanxiang Qianchao has announced ongoing progress in its major asset restructuring, focused on acquiring 100% equity of Wanxiang America Corporation through a combination of share issuance and cash payments. The company plans to raise supporting funds via share issuance to no more than 35 specific investors. The effort involves ongoing due diligence, auditing, and valuation work. The company will schedule a board meeting to deliberate the transaction-related matters and will disclose the pricing benchmark date. The company has urged investors to monitor future announcements and exercise caution.