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


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 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. Wugang rural commercial bank was established on November 10, 1997. It was formed by the merger of the original Wugang rural credit cooperatives and the rural credit cooperatives under its jurisdiction. The registered capital is 392.58 million yuan, and the legal representative is Gao Shengwei. Source: surging news editor: Wang Xiaowu_ NF

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.

Wugang rural commercial bank was established on November 10, 1997. It was formed by the merger of the original Wugang rural credit cooperatives and the rural credit cooperatives under its jurisdiction. The registered capital is 392.58 million yuan, and the legal representative is Gao Shengwei.