One week after the suspension, Jiangnan Red Arrow announced today that it has “reconciled†the restructuring. This is not the military assets expected by the market, but the Zhongnan diamonds that have been brewing IPO for a long time. With the help of Jiangnan Red Arrow “Definite Acquisition + Supporting Financingâ€, Zhongnan Diamond is not only expected to log on to the listing platform, but also to obtain funds for development. Jiangnan Hongjian announced today that the company is planning to issue shares to nine legal entities and natural persons such as China North Industries Group Corporation and Yuxi Industrial Group Co., Ltd. to purchase 100% of the shares of Zhongnan Diamond Co., Ltd. A specific object issues shares to raise matching funds. The company's stock will continue to be suspended, but promised to disclose the major asset restructuring plan or report by August 29 at the latest. According to public information, Zhongnan Diamond is a holding subsidiary of Ordnance Industry Group and Yuxi Industrial Group. It is headquartered in Nanyang, Henan Province. It has fixed assets of 1.6 billion yuan and more than 6,000 sets of various equipments (instruments). Two subsidiaries of the subsidiary and three subsidiaries, located in Zhengzhou, Shenzhen and Jiangxi. In fact, Central South Diamond has already brewed an A-share IPO. The company completed the restructuring in October 2009, and in June 2010, it has publicly listed the environmental protection verification in the Ministry of Environmental Protection. At that time, the verification materials showed that Zhongnan Diamonds plans to publicly issue about 150 million A shares and plans to raise 1 billion yuan. An internal meeting of China South Diamonds in 2010 pointed out that its main competitors, Huanghe Cyclone and Huajing Diamond (Yu Diamond), have all been listed. In order to enhance competitiveness, it is necessary to speed up the listing. But for now, the company's IPO progress is slow. This time with the reorganization of Jiangnan Red Arrow, Zhongnan Diamond is not only expected to log on to the listing platform, but also obtain development funds through supporting financing.
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