Construction Machinery saw its share price hit the daily limit on August 10 due to planning a major asset restructuring. Trading in the company's shares will be suspended from the market open on August 11, with the halt expected to last no more than 10 trading days. The company intends to acquire a 100% stake in Pucheng Clean Energy Chemical through a combination of share issuance and cash payment, while also raising matching funds. This transaction constitutes a connected transaction and is expected to qualify as a major asset restructuring, but will not lead to a change in actual controller. Pucheng Clean Energy is a modern coal chemical enterprise primarily engaged in the production and sale of polyolefin products such as polyethylene and polypropylene. Construction Machinery's main business includes construction machinery leasing and manufacturing, and its subsidiary Pangyuan Leasing is the world's largest tower crane rental company.
Shaanxi Construction Machinery Co LtdPlans major asset restructuring to acquire Pucheng Clean Energy, likely boosting value.
Being acquired by Construction Machinery, providing liquidity and potential growth.
