Yubang New Materials Says Control Change Plan May Alter Controlling Shareholder, Actual Controller

Yubang New Materials said on September 1 that its controlling shareholder, Suzhou Juxinyuan Enterprise Management Co., and actual controllers Xiao Feng and Lin Min are planning a change in control of the company, which may lead to a change in the controlling shareholder and actual controller. According to Jiemian News, the company’s shares and convertible bonds were suspended from trading from the open on August 31 after it applied to the Shenzhen Stock Exchange, and it said they would remain suspended from the open on September 2 because it did not expect to resume trading then. The suspension is expected to last no more than three trading days, and conversion of the bonds will be halted during the suspension.