The Zhitong Finance App learned that Zhifeng Industrial Electronics (01710) resumed trading and fell this morning. Previously, the stock price had increased more than 1.85 times in September. As of press release, it decreased by 19.9% to HK$1.65, with a turnover of HK$12.916 million.

According to the news, Zhifeng Industrial Electronics issued an announcement stating that on Tuesday (29th), the board of directors was informed that Lixun Precision, as a potential buyer, and Zhifeng Industrial Electronics Holdings, as a potential seller, entered into a non-legally binding memorandum of understanding on a potential transaction that could trade 75% of the group's shares.

According to the group, as far as the takeover code is concerned, the offer period began last Friday (October 2). If the potential transaction is implemented to completion, it will result in a change in the Group's control and trigger a mandatory comprehensive offer under Rule 26.1 of the Takeovers Code. According to the memorandum of understanding, the potential seller promised an exclusive period of two months and must do its best to assist the potential buyer in carrying out due diligence on the group.

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