20, Wanwei Hi-tech announced that Wanwei Group intends to plan restructuring with other provincial enterprise groups.
The reorganization is proposed to be carried out through the capital increase of Wanwei Group and the free transfer of part of the equity of Wanwei Group and the company. After the reorganization, the ownership structure of Wanwei Group will be changed to Anhui Conch Group Holdings, Anhui Investment Group and Anhui State-owned Capital Operation Holding Group. Conch Holdings will become the indirect controlling shareholder of the Company, but will not result in a change in the de facto controller of the Company.
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