CALB (03931) announced the completion of its acquisition and subscription of shares in Jiangsu Olive Sensors High-Tech Co., Ltd. (300507.SZ). As of the announcement date, all prerequisites under the share transfer agreement have been fulfilled, and the transfer registration of the target shares was completed on October 10, 2025. CALB now holds a 10.94% equity stake in Jiangsu Olive Sensors.
Pursuant to the share transfer agreement, both parties are required to finalize board restructuring and amendments to the articles of association within 30 working days after the share transfer registration. On November 21, 2025, Jiangsu Olive Sensors convened a shareholders' meeting to review and approve adjustments to its board composition. The board now consists of five directors, including three non-independent directors (one of whom is an employee-elected director, exempt from shareholder approval) and two independent directors. CALB nominated four of the five directors (excluding the employee-elected director).
Following the share transfer registration, the waiver of voting rights, and the board restructuring as stipulated in the agreement, CALB holds a majority of board seats, enabling it to exert substantial influence over board resolutions. Consequently, Jiangsu Olive Sensors is now classified as a non-wholly-owned subsidiary of CALB, and its financial results will be consolidated into CALB's financial statements.
As of the announcement date, the subscription for newly issued shares of Jiangsu Olive Sensors remains pending. CALB will disclose further updates regarding the subscription in compliance with listing rules if necessary.
Comments