Xiamen Xinda announced that the company decided to terminate the acquisition of 29.9% shares of Zheng Tong Auto. The reason for the termination of this merger is that the merger target is a listed company in Hong Kong, which involves the securities regulatory requirements of the two places. In addition, due to the epidemic situation in COVID-19, due diligence and other major asset restructuring work with the benchmark date of 65438+February 3, 20201cannot be completed before July 3, 20261.
Xiamen Xinda was founded in 1984 and listed on Shenzhen Stock Exchange on 1997. Now it has formed three core businesses: information technology, automobile distribution and supply chain.