On August 12th, GeLongHui reported that Baoding Tianwei Baobian Electric's holding subsidiary, Baobian-Foshan Transformer Co., Ltd. (referred to as "India Company"), holds 90% of the shares, and Baoding Tianwei Baobian Electric holds 90% of the shares. In accordance with the relevant requirements of the Enterprise State-owned Assets Transaction Supervision and Administration Measures (Order No. 32 of the State-owned Assets Supervision and Administration Commission of the State Council and the Ministry of Finance), the company intends to publicly list and transfer 90% equity of India Company.
According to the relevant regulations on state-owned asset management, before the official listing and transfer, the company will conduct a pre-listing on the Beijing Property Rights Exchange. This pre-listing is only for information disclosure and does not constitute a transaction. The main content of the transaction parties, transaction price, payment method, etc. cannot be determined at present.