Summary by Moomoo AI
CRRC Corporation signed an equity transfer agreement with its controlling shareholder CRRC Group on October 30, 2024, to acquire a 2.59% equity stake in Wai Mafrica Lease. The transaction consideration is RMB 371,594,775.89. After this transaction, CRRC Corporation will hold a 25.89% equity stake in Wai Mafrica Lease. According to the Hong Kong listing rules, this equity transfer constitutes a connected trade, but as the transaction percentage is less than 5%, it is exempt from the requirement for independent shareholder approval. Following the completion of the trade, Wai Mafrica Lease will not become a subsidiary of CRRC Corporation. This transaction will help advance the integration of Wai Mafrica Lease and CRRC Financial Leasing Co., Ltd., aligning with CRRC Corporation's development strategy, with no significant impact on the company's normal operation and financial condition.
