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On May 25, Sugon announced its intention to undergo a significant asset restructuring with Hygon. Under the proposed plan, Hygon aims to merge with Sugon through a share swap mechanism, involving the issuance of A-shares to all Sugon's A-share shareholders. Additionally, Hygon will issue A-shares to raise funds in support of this transaction. To uphold the transparency of information disclosure, safeguard investors' interests, and prevent any undue volatility in stock prices, Sugon's A-shares will be temporarily suspended from trading starting May 26, 2025. The anticipated duration of this suspension is no more than 10 trading days. It is important to note that the reorganization still necessitates the approval of the boards of directors and shareholders' meetings of both companies, as well as the authorization of relevant regulatory bodies.
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