*ST Busen: 20 Million Yuan To Transfer 10% Stake In Mccauley

In February 24th, *ST Busen announced that the company intends to transfer the 10% stake in Beijing Mccauley Technology Co., Ltd. ("Mccauley") to Yi Lian Hui (Beijing) Technology Co., Ltd. ("Yi Lian Hui Hua"), and the share transfer amount is RMB 20 million yuan. After the sale of equity issues is completed, the company will no longer hold Mccauley equity.

In view of the enterprise controlled by Mr. Wang Chunjiang, the actual controller of the Chinese joint venture company, according to the relevant regulations of the Shenzhen Stock Exchange Listing Rules, the transaction constitutes a related transaction, but it does not constitute a major asset reorganization stipulated in the management measures for the major asset reorganization of listed companies.

Regarding the purpose of this transaction and its impact on the company, *ST Busen said in its announcement that in order to integrate and optimize the company's business development, improve the company's asset structure and meet the company's working capital needs and reduce its financial costs, the company decided to transfer Mccauley's 10% equity interest and concentrate its resources on the main business in the future to achieve stable and high-quality development of the company. This related transaction accords with the actual operation and future development needs of the company, and helps the company to further optimize its strategic layout and improve its operation and management efficiency.

Whether *ST Busen, a company with a continuous net loss in 2017 and 2018, can achieve stable and high-quality development through the sale of shares, remains to be tested by the market. In addition, the reporter was informed from the recent announcement that *ST Busen also received an investigation notice of the China Securities Regulatory Commission (zhe Zheng investigation No. 2020005) in January 14, 2020 on suspicion of illegal information disclosure. According to the securities rights lawyer, the case is currently in the stage of investigation and evidence collection by the SFC. Once the Commission has issued an administrative penalty to *ST Busen after the investigation, according to relevant judicial interpretations, investors who hold *ST Busen on the close of January 14, 2020 and sell or still have a certain deficit (whether it is unwinding) after January 15, 2020 will be allowed to enter the country through legal means. Safeguarding rights. The claim can be set up in terms of the investment balance, commission and stamp duty loss. The final compensation condition and the amount of the claim will be determined by the court. Investors do not have to pay any lawyer fees before they receive compensation.

"Sky eye check" shows that *ST Busen was founded in 1985, focusing on the design, production and sales of BUSEN HOMME, BUSEN SELECTION, BUSEN UNIFORM, the three major product standard series, and was successfully launched in April 2011 in China A shares. In terms of the trend of stocks in the two tier market, the recent *ST Busen has had a short run. Now the company is being investigated. This undoubtedly adds uncertainty to the company's stock price. Market analysts say that for investors who have been concerned about *ST Busen, follow up or be cautious.