*ST Yabo Controlling Shareholder to Transfer 21.13% Stake to Two State-Owned Groups, Potential Change of Actual Controller

GateNews
According to an announcement on May 24, *ST Yabo's controlling shareholder Shandong Quanxing Technology disclosed plans to transfer its 21.13% stake in the company for no consideration. The transfer includes 17.11% (362,972,810 shares) to Zaozhuang Cai Jin Holdings Group and 4.01% (85,141,770 shares) to Shandong Caihui Holdings Group. Quanxing Technology has signed an intention agreement with both recipients. The transaction may result in a change of the company's controlling shareholder and actual controller.
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