Stock Code: 002085 Stock Abbreviation: Wafangfeng Aowei Announcement No.: 2026-033
Zhejiang Wafangfeng Automobile Co., Ltd. Announcement on Progress of Acquiring Subsidiary's Minority Shareholder Equity via Public Bidding
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions.
I. Transaction Overview
Zhejiang Wafangfeng Automobile Co., Ltd. (hereinafter referred to as the "Company") held the 21st meeting of the 8th Board of Directors on June 12, 2026, and approved the "Proposal on Acquiring Minority Shareholder Equity of a Holding Subsidiary via Public Bidding." The Company intends to acquire 28.05% and 6.95% of the equity in Wafangfeng Aircraft Industry Co., Ltd. (hereinafter referred to as "Aircraft Industry" or the "Target Company"), a subsidiary held by the Company, from Qingdao Wanshengchengfeng Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Wanshengchengfeng") via public bidding. The bidding prices are RMB 200,690,000,000 and RMB 49,720,000,000, respectively. For detailed information, please refer to the "Announcement on the Proposed Acquisition of Minority Shareholder Equity of a Holding Subsidiary via Public Bidding" disclosed by the Company on June 13, 2026, on the Juchao Information Network (www.cninfo.com.cn) and in the Securities Times, Announcement No.: 2026-028.
II. Transaction Progress
The Company participated in the bidding for 28.05% and 6.95% of the Target Company's equity. On June 22, 2026, Qingdao Property Rights Exchange Co., Ltd. issued a "Bid Result Notification," confirming that the Company was the buyer of 28.05% of the Target Company's equity at an transaction price of RMB 2,006,900,000. It also confirmed that other third-party institutions were the buyers of 6.95% of the Target Company's equity. On June 23, 2026, the Company and Wanshengchengfeng signed the "Equity Transfer Agreement."
III. Main Contents of the Equity Transfer Agreement
Transferor (Party A): Qingdao Wanshengchengfeng Equity Investment Partnership (Limited Partnership) Transferee (Party B): Zhejiang Wafangfeng Automobile Co., Ltd.
(I) Status of the Target Company
- Equity Structure of the Target Company