Guangzhou Changfeng's suspension for reorganization

Guangzhou Changfeng (600991) 28th announcement, the company on October 27 received the first major shareholder Guangzhou Automobile Group Co., Ltd. Notice, GAC Group is planning a major issue involving the company, the matter may affect the company's share price.　　In view of the matter is in the negotiation, argumentation stage, in order to avoid abnormal fluctuations in the company's stock prices, protect the interests of investors, the company's shares since October 28 suspension, the company is expected to announce the relevant information on November 4, 2010 and stock recovery. May 2009, Guangzhou Auto Group and Changfeng Group signed an agreement, Changfeng group will hold 29% of Guangzhou auto Changfeng to the Guangzhou group, Guangzhou Auto Group become the largest shareholder of listed companies. According to the agreement at that time, Guangzhou Auto Group pledged to work with partners, and strive for five years in Hunan investment of about 10 billion yuan, so that the cooperation project to form about 500,000 capacity scale, sales revenue to achieve a breakthrough of 40 billion yuan, the total profits of 5 billion yuan, thereafter, Guangzhou Changfeng began to integrate the company system Some holding subsidiaries such as Changfeng Enterprise Research and Development Co., Ltd., Changsha Changfeng Enterprise Manufacturing Limited Liability company were dissolved. Analysts said that Guangzhou Changfeng will continue to carry out the integration of the company's business level, the existence of business conflicts with the listed companies, overlapping business into the operating system of listed companies, reduce the management level, and the suspension of the company, perhaps with the major shareholders of Guangzhou Auto Group began to formally reorganize the listed companies.