Yesterday, Busen Clothing Released "More Than 5% Of Shareholder Reduction Plan Notice Notice".

Yesterday, Zhejiang

Limited by Share Ltd issued the "Notice of more than 5% of shareholders' reduction plan".

Qiu Li, a shareholder holding 10% of the company's shares, will reduce its holdings by no less than 5% and no more than 10% of the total share capital of the company. The reduction price will be determined according to the two level market price and paction method.

It is reported that this is the fourth pfer of shares after Busen group's three reorganization failed.

This time, Qiu Li will reduce the share of 5%-10%, which is the last equity relationship between Busen group and Busen group. If all the sell-off is completed, Busen shares and Busen group are no longer connected.

According to industry sources, in this way, the company pformation will be put on the agenda. The pformation will be decided by Xinghe and Xu Maodong, Lhasa star's big shareholder.

Xu Maodong of the industry will pform the company into an Internet related enterprise.

It is understood that as early as in August 2014, Busen shares were reorganized through Hong Wah's agricultural backdoor listing, but in the end, the abortion resulted from the divergence of shareholders.

After the failure of the reorganization, Busen Group signed an agreement in March 30, 2015 and pferred 29.86% of its shares to the Shanghai Rui Wei asset management partnership.

In the meantime, when the assets of Hong Wah successfully replaced Busen group as its controlling shareholder, it carried out two mergers and acquisitions in May 2015. However, it was once again aborted because of false information.

Qiu Li agreed to share the 14 million shares of the company held by the investment company of Busen and the group of Busen. After the completion of the equity changes, the shareholding ratio of Busen group fell to 24.7%.

Qiu Li will hold 14 million shares of Busen, accounting for 10% of the total share capital of the company.

In January 18th this year, Busen group carried out the third reorganization and merged the downstream industry of the automobile industry chain.