Terminate the planning of control change; Huilong New Materials will resume trading starting March 5.

Beijing Business Daily (Reporter Wang Manlei) reported on the evening of March 4th that HuiLong New Materials (301057) announced that the company has terminated the plan to change control rights. The company’s stock will resume trading starting March 5th.

HuiLong New Materials stated that due to the involvement of multiple matters and the lack of consensus with the counterparty on core issues, after careful consideration and friendly negotiations, both parties decided to terminate the planning of this major matter. The company’s current operations are normal, and the termination of this major matter will not have a significant adverse impact on the company’s performance and financial condition.

On the same evening, HuiLong New Materials disclosed that the company’s controlling shareholder and actual controller, Shen Shunhua, signed a “Share Transfer Agreement” with Hangzhou Xingzhen Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Hangzhou Xingzhen”). Shen Shunhua intends to transfer 7.0182 million unrestricted circulating shares of the company (accounting for 6% of the total shares of the listed company) to Hangzhou Xingzhen through an agreement transfer. The implementation of this agreement transfer will not lead to a change in the company’s controlling shareholder or actual controller, nor will it result in a change of control of the company.