Recently, the controlling shareholder of Baobian Electric Company will be changed to China Electric Equipment Group Co., Ltd.

According to the announcement, China Ordnance Equipment Group Co., Ltd., the controlling shareholder of Baobian Electric, plans to transfer 37.98% of its directly held shares in the company and 100% of its shares in Baoding Tongwei Electrical Equipment Co., Ltd. (which holds approximately 15.7224 million shares of Baobian Electric, accounting for 0.85% of the total shares of the company) to China Electric Equipment without compensation. This equity change belongs to the gratuitous transfer of state-owned shares. Keywords: the Belt and Road news, the Belt and Road project, overseas project.

Baobian Electric stated that on September 24, 2024 and September 25, 2024, China Electric Equipment and Weapon Equipment Group respectively fulfilled their decision-making procedures and agreed to the free transfer matter; On September 26, 2024, both parties signed the "Agreement on Free Transfer of State owned Equity in Enterprises", and the relevant procedures for equity transfer will be handled in accordance with regulations. After the completion of this free transfer, the controlling shareholder of the company will be changed from Weapon Equipment Group to China Electric Equipment. The actual controller has not changed and remains the State owned Assets Supervision and Administration Commission of the State Council. (This article is from the official website of Jian Dao: www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website mechanical column editor/Zhou Yingwen