On the evening of November 5, Mengtian Home Furnishings made public two significant announcements: The company intends to acquire a controlling interest in Shanghai ChuanTu Microelectronics (hereinafter referred to as ChuanTu Micro) and secure peizhi (a financial term meaning "supporting funds" in this context, retained in pinyin as it denotes a specific financial concept) through a combination of share issuance and cash payment. This move is anticipated to represent a major asset restructuring for Mengtian Home Furnishings. In a parallel development, the company's de facto controller, Yu Jingyuan, is considering the transfer of his controlling stake. These two initiatives are independent of each other and will advance separately. Trading of Mengtian Home Furnishings' shares will be halted from November 6, with the anticipated suspension period not exceeding 10 trading days.
