According to the Zhitong Finance App, Fuwei Co., Ltd. (600742.SH) announced that the controlling shareholder of the company, Jilin Yadong State-owned Capital Investment Co., Ltd. (“Yadong Investment”), intends to transfer 15.45% of the company's shares to China First Automobile Group Co., Ltd. (“FAW Group”) free of charge. Meanwhile, FAW Group will acquire 29.84% of the shares of Fuao Auto Parts Co., Ltd. (“Fuao Shares”), the third largest shareholder of the company, through a free transfer. The FAW Group indirectly holds 25.70% of Fuao shares through its wholly-owned subsidiary, FAW Equity Investment (Tianjin) Co., Ltd. (“FAW Equity”), with a total shareholding ratio of 55.54%. It will become the controlling shareholder of Fuao Co., Ltd.

If the free transfer is completed, the controlling shareholder of the company will be changed from Yadong Investment to FAW Group (holding 38.39% of the company's shares in total, of which: FAW Group directly holds 15.45% of the company's shares, indirectly holds 14.94% of the company's shares through FAW shares, and indirectly holds 8% of the company's shares through the concerted actor Fuao Shares). The actual controller of the company will be changed from the State-owned Assets Supervision and Administration Committee of the Jilin Provincial People's Government to the State Council's State-owned Assets Supervision and Administration Commission (“State Council State-owned Assets Administration Commission” for short).

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