Chalieco (02068) has issued an announcement that on November 6, 2026, Jiuye and Shenyang Institute (both being non-wholly-owned subsidiaries of the Company) entered into an equity transfer agreement, pursuant to which Jiuye agreed to transfer its 60% equity interest in Jiuye Sanwei to Shenyang Institute for a consideration of RMB 100.0812 million.
Following the completion of the equity transfer, the Company's shareholding ratio in Jiuye Sanwei will decrease by 7.7676%. Jiuye Sanwei will continue to be an indirect non-wholly-owned subsidiary of the Company.
The equity transfer constitutes an internal restructuring action within the Group, aimed at achieving efficient synergy of core resources between both parties through capital integration, scaling up and clustering the Group's mixing equipment business, and forming a closed business loop.
Jiuye Sanwei will leverage Shenyang Institute's technological advantages and the policy dividends of the "Science and Technology Reform" to accelerate its transformation and upgrading and enhance its core competitiveness; Shenyang Institute will be able to quickly fill the industrialization gap in its energy-saving business, forming a dual-driven pattern of environmental protection and energy-saving equipment, and achieving a "1+1>2" systemic advantage.
The Directors (including independent non-executive Directors) are of the view that although the equity transfer is not conducted in the ordinary and usual course of business of the Company, the entering into of the equity transfer agreement is beneficial and necessary for the Group's business operations; the pricing of the equity transfer agreement was determined through negotiation with reference to the appraised value of the transferred subject matter, and the equity transfer agreement and the equity transfer thereunder were entered into on normal commercial terms, with terms that are fair and reasonable and in the overall interests of the Company and its shareholders.
Comments