Why did Sichuan Luqiao suspend trading?

Sichuan Luqiao was stopped because Zhongshudao Group promised to avoid horizontal competition. Relevant information shows that on June 4th, 20021year, the Announcement of Suspension of Trading of Sichuan Luqiao on Matters Related to Planning to Issue Shares to Purchase Assets was issued. The content of the announcement is that Sichuan Railway Industry Investment Group Co., Ltd. (hereinafter referred to as Tietou Group), the former controlling shareholder of the company, and Sichuan Communications Investment Group Co., Ltd. (hereinafter referred to as Jiaotou Group) were newly established and merged into Shudao Group. On June 4th, 20021year, the company announced the Acquisition Report of Sichuan Road and Bridge Construction Group Co., Ltd. (hereinafter referred to as the Report). In the report, Shudao Group promised that in order to avoid competition in the same industry, in view of the overlap between its traffic engineering construction business and the company, Shudao Group will purchase or issue shares in cash within 1 year from the date of signing this report, and perform necessary tasks in time according to the requirements of relevant laws and regulations after formulating operational specific plans. In view of the uncertainty in this matter, in order to ensure fair information disclosure, safeguard the interests of investors and avoid abnormal fluctuations in the company's share price, according to the relevant regulations of Shanghai Stock Exchange, the company's stock (referred to as Sichuan Luqiao) has been suspended since its opening on September 30, 20021year, and the expected suspension time is no more than 10 trading days.