The emergency suspension of Broadcom shares disclosed on September 2 that the transaction partner of the company's major asset restructuring is intended to be Shaanxi Automobile Holding Group Co., Ltd., and the restructured assets are proposed to be Shaanxi Automobile Group Co., Ltd., a subsidiary of Shaanxi Automobile Holding Group Co., Ltd. 100% equity.
This is the second suspension of Broadcom's shares and the restructuring of Shaanxi Automobile Group. In August 2013, Broadcom disclosed the restructuring plan with Shaanxi Automobile Group. The company intends to purchase Shaanxi Automobile Group Co., Ltd. 100% from nine shareholders including Shaanxi Automobile Holding Group Co., Ltd. by means of asset replacement and issuance of shares to purchase assets. The equity, the estimated value of the underlying assets is about 3.083 billion yuan.
In February of this year, Broadcom shares terminated the major asset restructuring. The reason is that Shaanxi Automobile Holdings intends to make appropriate adjustments to the assets of Shaanxi Automobile Group. Broadcom shares cannot be disclosed within 6 months of the “Major Assets Replacement and Issuance of Shares to Purchase Assets and Related Transaction Plans”. Issue a notice to convene a general meeting of shareholders.
According to the disclosure, Shaanxi Automobile Group is a state-owned large-scale automobile enterprise group with 17 participating and holding enterprises, mainly engaged in the production and sales of heavy trucks, special vehicles and parts. Among the four business segments, the heavy truck vehicle segment is the core business. According to the sales volume, its market share ranks fifth in the heavy truck industry, reaching 13.19%. However, its profit is mainly from Shaanxi Heavy Duty Truck, which owns 49% of the shares, and another 51% stake in Shaanxi Heavy Duty Truck is controlled by Weichai Power.

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