"China socks king" Langsha will be the main *ST long control

*ST Long Controls announced yesterday that the company’s controlling shareholder and Sichuan State-owned Assets Supervision and Administration Commission authorized Yibin City State-owned Assets Management Co., Ltd. and Zhejiang Langsha Holdings Co., Ltd., which is known as the “Chinese sock king”, to sign the “Equity Transfer Agreement”. ST Long Controlled 34.67 million shares of state shares were transferred to Langsha Holdings, which accounted for 57.11% of the total share capital of ST, and the transfer amount was 70 million yuan.

Langsha Holdings stated that the purpose of the long-term acquisition of *ST is to obtain capital support through the capital market platform, enhance the competitive strength of Langsha's underwear, and further expand Langsha's brand awareness, making Langsha underwear the most competitive underwear manufacturing and sales in China. enterprise. At the same time, Langsha Holdings stated that after the long-term control of the acquisition of *ST, it will assume the obligation of equity share reform and restructure the assets of *ST. Therefore, it may be possible for the above reasons to increase the number of shares held by *ST or to dispose of shares already owned.

Langsha Holdings was established in April 2005 with a registered capital of 70 million yuan and its business scope is industrial investment. Langsha's controlling shareholder is the three brothers Weng Guanrong, Weng Rongjin and Weng Rongdi. Since the beginning of the 1990s, the company has started business and is mainly engaged in the development, production and sales of socks, knitted underwear and other products. It is the largest socks manufacturer in China. Up to now, Weng Brothers has owned a number of companies, of which core companies include Langsha underwear, which was established in 2006 with a registered capital of 66 million yuan, and Langsha Holdings holds 100% of the company's equity. Langsha underwear's main business is manufacturing and sales of knitted underwear. The main products are mainly seamless underwear, including natural colored Cotton series, underwear and other products.