Shenhua Holdings, which has been suspended for more than three months, announced on August 5 that the actual controller of the company, Huachen Group, will issue a private placement of the company by cash. The company intends to issue 200 million shares to Huachen Group at an issue price of 2.59 yuan per share. The total amount of funds raised was 518 million yuan, which was mainly used to repay bank loans and supplement working capital.
Previously, the company has been suspended in the name of major asset restructuring. On the evening of July 25, Shenhua Holdings announced that there were significant differences between the two parties in the restructuring transaction in the valuation and pricing of the assets to be purchased, and the business cooperation between the business and the assets to be purchased is now difficult. In detail, the company intends to change the major asset restructuring into a non-public offering of shares.
On September 12 last year, Shenhua Holdings also suspended the suspension due to the planning of a major restructuring, and the company and the reorganization party failed to form a consensus on the relevant provisions of the cooperation agreement, and the share price suffered a down limit after the resumption of trading.
Shenhua Holdings is one of the two listed companies of the Brilliance Group in the A-share market. Its main business is in addition to automobile consumption, real estate and new energy projects, as well as special-purpose vehicles. As the third business planned by Brilliance Group, the special-purpose vehicle business officially entered the financial statements of Shenhua Holdings in 2010. At that time, Brilliance's independent car business was in the most difficult period, and the domestic dedicated vehicle market has not yet been developed, which is set as the new growth point for Brilliance in the next five years.
Ordinary Nuts provide clamping force to a bolt or screw to prevent axial movement. When the application involves vibration, the nuts risk loosening, risking damage to the application. This is where lock nuts prove their worth: they resist vibration and shock. There`s no one answer for how to use a lock nut, as they vary.
There are essentially two lock-nut types.
These lock nuts are designed with pitted or flanged grooves and need greater torque to tighten and loosen. They don`t spin freely along the fastener`s shaft, as they begin to clamp down as you rotate them. This means longer assembly time for your application. However, they cost a lot less than the other lock-nut style. These types of nuts are called prevailing-torque nuts due to the resistance to rotation when assembling and removing.
These are essentially nuts with locks. They easily rotate during tightening and loosening for fast assembly. Locked into position by a positive action. Some lock nuts require inserting a pin while others present a small lip or crown that is crimped inward when installed, gripping the shaft. While assembly is fast and more secure, this type of lock nut costs more.
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