Shuanghuan Driveline (002472.SZ): Huandong spin-off terminated

Shuanghuan has closed out the termination of its robotics subsidiary spin-off. An announcement made by the company on 3 September disclosed that the board terminated the STAR Market listing of Huandong (unlisted) and withdrew the application; on 21 September the resolution was approved at the extraordinary general meeting. Management commented the spin-off turned on two issues between parent and subsidiary – potential internal competition and the independence requirement, which demanded separate personnel, resources and funding;