Huahuaniu sold more than 22percent equity of Henan Wugang agricultural commercial bank for 3 times, which cleared the way for listing

category:Finance
 Huahuaniu sold more than 22percent equity of Henan Wugang agricultural commercial bank for 3 times, which cleared the way for listing


Tianyan inspection shows that Henan Ruiya animal husbandry Co., Ltd. is a wholly-owned subsidiary of Huahuaniu.

On December 29, 2018, Pingdingshan banking and insurance regulatory branch approved Huahuaniu to transfer 20 million shares of Wugang rural commercial bank to Xiping Jinfeng Industrial Co., Ltd. After the above equity transfer, Xiping Jinfeng Industrial Co., Ltd. held 20 million shares of Wugang agricultural commercial bank, with a shareholding ratio of 5.09%.

On October 28, 2020, China CITIC construction investment released a progress report on the guidance work, which shows that the main problem of Huahua cattle is that it holds 28.99% shares of Wugang rural commercial bank, and takes it as other equity investment accounting. CITIC and other intermediaries have asked Huahuaniu to sell all of its shares as soon as possible. Huahuaniu is actively handling the above equity and will transfer it to an unrelated third party as soon as possible.

According to the Interim Provisions on the management of rural commercial banks issued and implemented by the former CBRC in 2003, the total shares held by a single legal person and its affiliated enterprises shall not exceed 10% of the total share capital of ABC.

That is to say, before that, Huahuanius shareholding ratio to the agricultural Commercial Bank of Wugang was in violation of the Interim Regulations on the management of rural commercial banks. At present, Huahuaniu shares 6.36% of the shares of the agricultural commercial banks of Wugang, which meets the specified proportion. Huahua cattle was founded in 2012, which is a key leading enterprise in agricultural industrialization of Henan Province, which involves dairy processing, dairy cattle breeding and feed production. The headquarter is located in Xincai county industrial cluster area of Henan Province, with a registered capital of 1779235.4 million yuan. Huahuaniu intends to issue and list its shares for the first time in the A-share market, and is being tutored by China CITIC Investment Securities Co., Ltd. and has been tutored and filed with Henan Securities Regulatory Bureau on December 18th, 2018. Founded on November 10, 1997, the agricultural Commercial Bank of WISCO was formed by the merger of the original rural credit cooperative and its rural credit cooperatives under its jurisdiction. The registered capital is RMB 39.258 million, and the legal representative is Gao provincial Wei. Source: surging editor of news responsibility: Wang Xiaowu_ NF

That is to say, before that, Huahuanius shareholding ratio of Wugang rural commercial bank was in violation of the Interim Provisions on the management of rural commercial banks. At present, the shareholding ratio of Huahuaniu to Wugang rural commercial bank is 6.36%, meeting the specified proportion.

Huahua cattle, founded in 2012, is a key leading enterprise of agricultural industrialization in Henan Province, involving dairy processing, dairy farming and feed production. Headquartered in Xincai County, Henan Province, the registered capital is 177923504 yuan. Huahuaniu plans to issue shares and go public for the first time in the A-share market. It is under the guidance of China Securities Construction Investment Co., Ltd. and has been filed with Henan Securities Regulatory Bureau on December 18, 2018.

Founded on November 10, 1997, the agricultural Commercial Bank of WISCO was formed by the merger of the original rural credit cooperative and its rural credit cooperatives under its jurisdiction. The registered capital is RMB 39.258 million, and the legal representative is Gao provincial Wei.