Zhongnan Red Culture Group Co., Ltd. disclosed that it plans to acquire a 57.30% stake in Jiangyin Sulong Thermal Power Co., Ltd. through a combination of share issuance and cash payment, along with raising supporting funds. As of August 6, 2026, audit, appraisal, and other related work have not yet been completed, and the parties to the transaction still need to further communicate and negotiate on the transaction details. The company held a board meeting on March 5, 2026, and approved the restructuring proposal, with its shares resuming trading on March 9. It had previously disclosed progress announcements in April, May, June, and July. The company cautioned that this transaction still needs to undergo internal decision-making procedures and obtain approval from regulatory authorities, and there is significant uncertainty as to whether it can ultimately be implemented.
Zhongnanhong Culture Group Co LtdAcquisition restructuring pending audit and approvals, outcome uncertain.
