baccaratvotive| Shanggong Shenbei received a regulatory inquiry letter from the Shanghai Stock Exchange and was required to explain the specific reasons and necessity for purchasing assets of bankrupt entities across industries

On May 21, the Shanghai Stock Exchange issued a regulatory inquiry letter to Shanggong ShenbeibaccaratvotiveOn May 21, the company filed a disclosure of the "Announcement on Participating in the Bankruptcy Reorganization Investment and Related Transactions of ICON Company of the United States" stating that it plans to increase capital by raising funds to Duquesp Adler Co., Ltd., a wholly-owned subsidiary of the company, and through its establishment in the United States A new subsidiary SGInvestmentAmerica,Incbaccaratvotive. Participated in ICONAR International Inc. (hereinafter referred to as "ICON Company") and its related parties ICTechnologies Inc., The bankruptcy reorganization of Rycon LLC and ICONFlyingClub,LLC (hereinafter collectively referred to as "bankrupt entities") purchased part of the assets under the name of the bankrupt entity at a transaction consideration of US$13 million.

The company is required to explain the specific reasons and necessity for the company to purchase assets of bankrupt entities across industries based on the composition of the company's main business, business relevance to the assets of the underlying bankrupt entities, and post-acquisition business development plans.

(Article source: Interface News)