Baoding Tianwei Baobian Electric (600550.SH) announced in a statement that on August 31, 2024, the company received a notice from its controlling shareholder, China North Industries Group Corporation Limited (referred to as 'North Industries Group'). To implement the spirit of the Third Plenary Session of the Twentieth Party Congress, optimize the layout of state-owned capital, promote professional integration, enhance the core competitiveness and sustainable development capabilities of the power transmission and transformation equipment industry, North Industries Group is currently carrying out the integration of power transmission and transformation equipment business with China Electric Equipment Group Co., Ltd. This integration may result in a change in the company's controlling shareholder, but it will not lead to a change in the actual controller, which will still be the State-owned Assets Supervision and Administration Commission of the State Council.
The Futu News app reported that Baoding Tianwei Baobian Electric (600550.SH) announced on August 31, 2024, that the company received a notice from its controlling shareholder, China North Industries Group Corporation Limited (referred to as 'North Industries Group'). In order to implement the spirit of the Third Plenary Session of the Twentieth Party Congress, optimize the layout of state-owned capital, promote professional integration, enhance the core competitiveness and sustainable development capabilities of the power transmission and transformation equipment industry, North Industries Group is currently carrying out the integration of power transmission and transformation equipment business with China Electric Equipment Group Co., Ltd. This integration may result in a change in the company's controlling shareholder, but it will not lead to a change in the actual controller, which will still be the State-owned Assets Supervision and Administration Commission of the State Council.
