Chongqing Three Gorges Ends Issue of Shares to Buy Ningxia Ziguang

July 1, 2017, Chongqing Three Gorges Paint Co., Ltd(hereinafter referred to as "Yu Three Gorges" and "Listed Companies") held its sixth (eight sessions) board of directors in 2017 to consider and approve the Motion on the Company's Proposal to Stop the Issue of Shares to Purchase Assets and Related Transactions and the Motion On the Company's Withdrawal of the Application Document for the Purchase of Assets and Related TransactionsRui
The transaction plan of this reorganization is: the listed company intends to purchase 100% of the shares held by Chongqing Chemical Medicine Ziguang New Materials Co., Ltd("Chongqing Ziguang New Materials" ) by issuing shares, with a consideration of 306,046.14 million yuanThis reorganization constitutes a material asset reorganization, an associated transaction, and does not constitute a reorganization listingRuithe reasons for the termination of this restructuring
Ruithe main business of Ningxia Ziguang, the target company of this restructuring, is the production and sale of methionineMethionine belongs to animal nutritional feed additives, the downstream customers of the industry are mainly livestock feed producers, livestock products manufacturers, and so on, downstream livestock and poultry products market climate directly affects the production and sale of methionineRui
In January 2017, the sudden outbreak of more serious avian influenza in China, a wide range, long duration, infected population, domestic poultry, meat, egg products consumption decreased, prices seriously frustrated, farmers have a large area of losses, resulting in a sharp decline in demand for egg feed, feed enterprises production underutilized, methionine demand significantly reduced, resulting in a larger decline in its prices, resulting in a larger decline in Ningxia Ziguang's performanceDue to the outbreak of avian influenza, Ningxia Ziguang's full-year results for 2017 are expected to decline year-on-yearAccording to the Supplementary Agreement on Profit Forecast Compensation signed by the Company and Chongqing Ziguang, The net profit attributable to the parent company of Ningxia Ziguang after deducting non-recurring profit and loss: RMB34,080.81 million in 2017In view of Chongqing Ziguang's expectation that Ningxia Ziguang will not be able to complete the promised performance in 2017, in order to effectively safeguard the interests of listed companies and investors, after consensus between the two parties to the transaction, decided to terminate the reorganization and apply to withdraw the relevant application documents to the CSRCon July 1, 2017, Chongqing Three Gorges Paint Co., Ltd(hereinafter referred to as "Yu Three Gorges" and "Listed Company") held its sixth (8th) board of directors in 2017 to consider and approve the Motion on the Company's Proposal on Ending the Issue of Shares to Purchase Assets and Related Transactions and the Motion On the Company's Withdrawal of the Application Document for the Purchase of Shares and Related TransactionsRui
The transaction plan of this reorganization is: the listed company intends to purchase 100% of the shares held by Chongqing Chemical Medicine Ziguang New Materials Co., Ltd("Chongqing Ziguang New Materials" ) by issuing shares, with a consideration of 306,046.14 million yuanThis reorganization constitutes a material asset reorganization, an associated transaction, and does not constitute a reorganization listingRuithe reasons for the termination of this restructuring
Ruithe main business of Ningxia Ziguang, the target company of this restructuring, is the production and sale of methionineMethionine belongs to animal nutritional feed additives, the downstream customers of the industry are mainly livestock feed producers, livestock products manufacturers, and so on, downstream livestock and poultry products market climate directly affects the production and sale of methionineRui
In January 2017, the sudden outbreak of more serious avian influenza in China, a wide range, long duration, infected population, domestic poultry, meat, egg products consumption decreased, prices seriously frustrated, farmers have a large area of losses, resulting in a sharp decline in demand for egg feed, feed enterprises production underutilized, methionine demand significantly reduced, resulting in a larger decline in its prices, resulting in a larger decline in Ningxia Ziguang's performance Due to the outbreak of avian influenza, Ningxia Ziguang's full-year results for 2017 are expected to decline year-on-year According to the Supplementary Agreement on Profit Forecast Compensation signed by the Company and Chongqing Ziguang, The net profit attributable to the parent company of Ningxia Ziguang after deducting non-recurring profit and loss: RMB34,080.81 million in 2017 In view of Chongqing Ziguang's expectation that Ningxia Ziguang will not be able to complete the promised performance in 2017, in order to effectively safeguard the interests of listed companies and investors, after consensus between the two parties to the transaction, decided to terminate the reorganization and apply to withdraw the relevant application documents to the CSRC Rui