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On November 28, Sugon issued a statement revealing that Hygon Information intends to absorb and merge Sugon via a share-swap arrangement. This will be accomplished by issuing A-shares to all of Sugon's A-share-trading shareholders, alongside raising matching funds (which, in this context, refers to the capital raised concurrently with the primary transaction). This proposed deal is classified as both a related-party transaction and a major asset restructuring, yet it does not qualify as a backdoor listing. Since the announcement of the transaction plan, both entities have been diligently progressing with the necessary preparations. Once these preparations are finalized, another board meeting will be called to deliberate on the proposal, after which the requisite procedures and information disclosure obligations will be duly executed.
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