Zhejiang Yonggui Electric Co., Ltd.
Announcement on the Acquisition of Equity in a Controlled Subsidiary
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
Special Notes:
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Zhejiang Yonggui Electric Co., Ltd. (hereinafter referred to as the "Company" or "Yonggui Electric") will acquire 31.0001% of the equity in Zhejiang Yonggui Bote Transportation Equipment Co., Ltd. (hereinafter referred to as "Bote Transportation") held by Zhejiang Provincial Economic Construction Investment Co., Ltd. (hereinafter referred to as "Jingtou Company") for a cash consideration of RMB 33,144,517. After the transaction, the Company's shareholding in Bote Transportation will increase from 68.9999% to 100%, and Bote Transportation will become a wholly-owned subsidiary of the Company.
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This transaction does not involve related-party transactions and does not constitute a major asset restructuring as stipulated in the "Measures for Major Asset Restructuring of Listed Companies."
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This acquisition of subsidiary equity does not require submission to the Company's Board of Directors or Shareholders' Meeting for deliberation.
I. Overview of the Transaction
On April 7, 2024, the Company convened the seventh meeting of the Fifth Board of Directors, which deliberated and approved the "Proposal on Capital Increase and Introduction of Strategic Investors for the Company's Controlled Subsidiary." The Company's controlled subsidiary, Bote Transportation, introduced Jingtou Company as a strategic investor. Yonggui Electric and Jingtou Company agreed to jointly increase capital in Bote Transportation in cash. After the capital increase, Jingtou Company will hold 31.0001% of the equity in Bote Transportation, and Yonggui Electric will hold a total of 68.9999% of the equity. For details, please refer to the "Announcement on Capital Increase and Introduction of Strategic Investors for the Company's Controlled Subsidiary" disclosed on the China Securities Regulatory Commission's designated information disclosure website, CNINFO (http://www.cninfo.com.cn), on April 9, 2024.
Recently, Jingtou Company publicly disclosed the equity transfer information and organized the transaction activities through the "Zhejiang Equity Exchange" platform, offering the 31.0001% equity it holds in Bote Transportation for transfer. The initial offering price was RMB 33,144,517. During the offering period, the Company submitted the application materials for the transfer to the Zhejiang Equity Exchange (hereinafter referred to as "Zhejiang Exchange").