Stock Code: 002025 Stock Abbreviation: Aerospace Electric Announcement No.: 2026-4
Guizhou Aerospace Electric Co., Ltd. Announcement on Capital Increase and Share Expansion of Subsidiary Taizhou Aerospace Electric Co., Ltd. Through Public Listing
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
I. Transaction Overview
Guizhou Aerospace Electric Co., Ltd. (hereinafter referred to as the "Company") holds a controlling stake in Taizhou Aerospace Electric Co., Ltd. (hereinafter referred to as "Taizhou Aerospace"). Taizhou Aerospace was established in July 2000 with a registered capital of RMB 50 million. The Company holds 51.00% of the shares, while individual shareholders Mr. Chang Xu holds 24.00%, Mr. Dai Wei Ming holds 10.68%, Ms. Zhao Zhihong holds 5.32%, and the labor union of Taizhou Aerospace Electric Co., Ltd. holds 9.00%.
On July 28, 2026, the seventh extraordinary meeting of the eighth Board of Directors of the Company in 2026 deliberated and passed the "Proposal on Capital Increase and Share Expansion of Subsidiary Taizhou Aerospace Electric Co., Ltd. Through Public Listing." To accelerate the construction of Taizhou Aerospace's new plant and production lines, enhance the production capacity of circular connectors and components, metal encapsulation shells, and ceramic interconnect products, and promote the high-quality development of the interconnect industry, Taizhou Aerospace plans to increase capital and expand shares through public listing. According to the "Asset Appraisal Report" (Xin Zi Ping Bao (2025) No. A10131) issued by Shanghai Lixin Asset Appraisal Co., Ltd., the net asset value of Taizhou Aerospace as of the appraisal base date, September 30, 2025, was appraised at RMB 17,493.00 million. As the appraisal results have not yet been filed with China Aerospace Science and Industry Corporation Limited, any changes in the final filed appraisal results will lead to corresponding adjustments in the subscription price for new registered capital and the post-investment shareholding structure.
Upon deliberation, the Company's Board of Directors agreed that Taizhou Aerospace will conduct a capital increase and share expansion through public listing, aiming to raise funds not exceeding RMB 90 million. This capital increase will be implemented after the appraisal results of Taizhou Aerospace's net assets are filed with China Aerospace Science and Industry Corporation Limited (if the final filed appraisal results change, the subscription price for new registered capital and the post-investment shareholding structure will be adjusted accordingly). The transaction will be conducted publicly on the property rights exchange in accordance with relevant regulations for state-owned property rights transactions. To ensure the Company's shareholding ratio remains no less than 51%, the Board of Directors agreed that the Company will participate in the capital increase with its own funds of no less than RMB 46 million. Original shareholder Mr. Chang Xu plans to contribute RMB 5 million in cash, Mr. Dai Wei Ming plans to contribute RMB 3 million in cash, and up to one external investor will be sought to contribute no more than RMB 36 million in cash. If a qualified external investor cannot be found during the public listing period, the Company will increase its capital in Taizhou Aerospace by a total of RMB 82 million to support its industrial development. The final transaction results will be determined based on the actual situation of investors solicited through the property rights exchange. The Board of Directors authorized the Company's Chairman to sign relevant contracts and legal documents related to Taizhou Aerospace's capital increase and share expansion. After this capital increase, Taizhou Aerospace will remain a controlling subsidiary of the Company. Original shareholders Ms. Zhao Zhihong and the labor union of Taizhou Aerospace Electric Co., Ltd. have waived their pre-emptive subscription rights for this capital increase.