Xinhua Media hits 4th consecutive daily limit up on major asset restructuring plan; Beijing Stock Exchange newcomer Bairui Ji surges over 460% on debut

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3▲4 ▼0Impact / 5
Summary · why it matters

Xinhua Media, which plans a major asset restructuring, has hit its fourth consecutive daily limit up. On September 18, Xinhua Media announced a draft plan to issue shares to acquire assets and a related-party transaction, under which it intends to purchase, through share issuance, 100% equity in Shanghai Jiemian Cailianshe Technology Co., Ltd. from a total of 13 counterparties including Shanghai United Media Group Culture New Media Investment Management Co., Ltd. The transaction is expected to constitute a major asset restructuring. On September 24, Beijing Stock Exchange newcomer Bairui Ji opened 347.23% higher at 75 yuan on its first trading day, versus an issue price of 16.77 yuan, and had surged more than 460% as of press time. The company's main business is the research, production and sales of biomedical materials and other products. Multiple media-sector stocks have hit consecutive daily limit ups, with Xinhua Winshare at five straight limit ups, Xinhua Media at four, and Topway Video at three.

Impact on assets 4

Materials▲ · 1 stocks
XINHUA WINSHARE
0811-OL
▲ PositiveCapitalrelevance

Xinhua Winshare hit five straight limit ups amid the media-sector restructuring-driven rally, though no company-specific development is cited.

Others▲ · 3 stocks
Shanghai Xinhua Media Co Ltd
600825
▲ PositiveCapitalrelevance

Xinhua Media announced a draft plan to issue shares to acquire 100% equity in Shanghai Jiemian Cailianshe Technology, a major asset restructuring that drove its fourth consecutive limit up.

Off-coverage companies 1

BairuijiPrivate▲ Positive
Capitalrelevance

Beijing Stock Exchange newcomer Bairuiji surged over 460% on its trading debut versus its 16.77 yuan issue price.

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