YEAH YEAH GROUP (8082), formerly known as Sun Entertainment, announced last night (6th) that it was notified by its controlling shareholder Zhou Zhuohua (Ximihua) that it had sold regarding 731 million shares in the market from September 14th to 23rd this year. YEAH YEAH GROUP.
The sale of shares is expected to cash out 8.86 million
After the transaction is completed, Zhou Zhuohua’s shareholding has dropped from 37.04% to 2.17% or regarding 45.47 million shares, and will no longer be the controlling shareholder of YEAH YEAH GROUP. According to the information of the stock exchange, Zhou Zhuohua sold the relevant shares and cashed out 8.86 million yuan.
The announcement also stated that the company does not expect that the sale of shares by Zhou Zhuohua will not have any adverse impact on the group’s operations. In addition, the company is not aware of the identities of the counterparties in the sale or their respective principal business activities.
In terms of stock price, YEAH YEAH GROUP has more than doubled to 0.029 yuan this morning, and temporarily reported 0.025 yuan, which still rose by 92%, but the transaction amount was less than 5 million yuan. As for Zhou Zhuohua’s case, it is in the trial stage of the Macau court and is being detained in the Macau Coloane Prison.
On the other hand, the Stock Exchange disclosed that Xu Bingchen, known as the “King of Small Shells on the Growth Enterprise Market”, became the second largest shareholder of YEAH YEAH GROUP. He recently increased his holdings by 43.38 million shares, increasing his shareholding to 18.24%.
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