Zhitong Finance App News, Zhonglian Heavy Industries (01157) announced that on October 13, 2026, the company, the acquirer (Yuanzhuo Angel (Longyou) New Energy Partnership (Limited Partnership)) and Mr. Zhang Wutang signed a “Share Transfer Agreement”. According to this, the company conditionally agreed to sell 35.988 million shares for sale (equivalent to about 29.99% of the issued share capital of the target company Shenzhen Luchang Technology Co., Ltd.), with a total cash consideration of RMB 899.7 million.
According to the terms of the “Share Transfer Agreement”, the contracting parties also agree that: (i) after delivery, the offeror will make an offer to all shareholders of the target company to buy no less than 16.8 million target shares not owned by the offender himself and his co-actors at the same price as per share (or higher price as required by applicable Chinese law); (ii) once the offer is made, the company intends to submit a pre-offer for acquisition of 16.8 million target shares held by the target company (equivalent to approximately 14.0% of the target company's issued share capital).
The target company is listed on the Shenzhen Stock Exchange with the stock code 002813. Target Group is mainly engaged in the development, production, sales and service of products related to automotive information technology and intelligent systems.
The two deals were to optimize resource allocation and promote the better development of target companies.
The company obtained a controlling interest in the target company through agreement transfers and partial offers in 2022, with the aim of leveraging industrial synergy and improving the business layout based on the listed company platform. During the holding period, the company promoted the target company to improve the corporate governance structure and stabilize operation and management. Through the two transactions, the company will work with the acquirer to support the stable development of the target company's business and fulfill transaction related decision-making procedures and information disclosure obligations in accordance with regulations. On the one hand, the company will continue to support the target company's intelligent related collaborative business according to business development needs; on the other hand, the company plans to promote the integrated development of the target company's “intelligent” and “green” industries in accordance with the strategic plans and operating arrangements of each party.
The two transactions were prudent decisions made by the company based on changes in the internal and external business environment. The business logic was clear, the decision-making procedures were compliant, and the pricing was fair and reasonable. Proceeds from the two transactions will be used for the continuous development of the company's main business and to supplement its working capital, so that the company can focus on its relevant diversification, globalization and digital strategic investment, improve resource allocation efficiency and operating standards, and better return the company's shareholders.