Jiangxi Special Electric Motor Co.,Ltd. (002176.SZ) announced that the company recently received notification from its controlling shareholder Jiangxi Jiangte Electric Group Co., Ltd. (hereinafter referred to as "Jiangte Electric"). Beijing Wubai Yingli Technology Co., Ltd. (hereinafter referred to as "Wubai Yingli Technology"), which is controlled by Mr. Wang Xin, one of the company's actual controllers, has signed equity transfer agreements with 20 shareholders of Jiangte Electric, including Chen Xiaohong, Jiangxi Tianhao Investment Co., Ltd., Li Yong, Chen Shushen, and Chen Sijie. These 20 shareholders will transfer their combined 36.92% equity stake in Jiangte Electric to Wubai Yingli Technology. Following this transfer, Mr. Wang Xin's indirect shareholding in the company through Wubai Yingli Technology will increase from 4.08% to 9.29%. This transfer does not result in a change of control of the company.
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