Antai Group (600408.SH) terminates intention to transfer part of shares in coal companies

Zhitong Finance App News, Antai Group (600408.SH) issued an announcement. The company previously intended to transfer part of the shares of Shanxi Jiexiu Xinyugou Zuozegou Coal Industry Co., Ltd. held by Mr. Yang Ruiping and his affiliates in cash or other means, and the parties signed a “Letter of Intent to Transfer Shares”. Since signing the letter of intent, the parties have actively promoted the work arrangements related to this transaction. Up to now, the company has completed on-site research and preliminary due diligence on the target company, and discussed specific matters of cooperation between the two parties. After the target company has completed preliminary matters related to equity regulation and integration, the parties have discussed and signed a formal transaction agreement. According to the letter of intent, all parties should aim to complete this transaction by the end of April 2025.

Recently, after thorough communication and understanding between the company's management and the actual controller of the target company, I learned that due to the target company's historical equity issues, it is very difficult to integrate its equity regulations. Up to now, there are no proper solutions, making it difficult to complete this transaction before the end of April. Due to the high level of uncertainty in this transaction, in order to control investment risks, it was decided to terminate the share transfer intention after negotiations between the two parties. According to the letter of intent, the actual controller of the target company has returned the full transaction deposit paid by the company to the company.