Jiangte Electric's Shareholding Change and New Control Structure

After the completion of this shareholding change, the controlling shareholder of Jiangte Electric has not changed and remains Jiangte Electric Co., Ltd., while the actual controllers have changed from 'Zhu Jun, Lu Shunmin' to 'Wang Xin, Zhu Jun'. On July 28, Jiangte Electric (002176) announced that the actual controllers Zhu Jun and Lu Shunmin signed a share transfer agreement with Beijing Wubai Yingli Technology Co., Ltd. (hereinafter referred to as Wubai Yingli), wherein Zhu Jun and Lu Shunmin transferred a total of 50% equity in Jiangxi Jiangte Industry Co., Ltd. (hereinafter referred to as Jiangte Industry) to Wubai Yingli. Following this transfer, Wubai Yingli holds 50% equity in Jiangte Industry, while Zhu Jun and Lu Shunmin each hold 25%. On the same day, Wubai Yingli's controlling shareholder Wang Xin signed a 'Consistent Action Agreement' with Zhu Jun, agreeing that from the date of completion of the industrial and commercial change, Zhu Jun and Wang Xin will act in concert in the management and decision-making of Jiangte Industry, Jiangte Electric, and Jiangte Electric Motor. Both parties and the enterprises they control, as well as the directors they appoint, will act in concert when exercising or entrusting shareholder rights, fulfilling the obligations of the group company shareholders, and exercising the duties of directors. Lu Shunmin also signed a 'Voting Right Entrustment Agreement' with Zhu Jun, stipulating that from the date of completion of the industrial and commercial change, Lu Shunmin will fully entrust Zhu Jun with the voting rights corresponding to the 25% equity he holds in Jiangte Industry. Following this shareholding change, the controlling shareholder of Jiangte Electric remains Jiangte Electric Co., Ltd., while the actual controllers change to 'Wang Xin, Zhu Jun'. According to Jiangte Electric's recent annual reports, Wang Xin first appeared among the top ten unrestricted shareholders in 2017 and in the top ten shareholders for the first time in 2019. After multiple increases, by the first quarter of 2025, Wang Xin had become the second-largest shareholder of Jiangte Electric with a 2.94% stake and an indirect shareholding ratio of 4.08% through his 50% stake in Jiangte Industry. Jiangte Electric stated that the reason for this shareholding change is Wang Xin's high recognition of the company's main business, industry, intrinsic value, and development prospects. Wang Xin will leverage his advantages in resource integration, industrial planning, funding, and talent to empower the business development of the listed company, improve operational and management efficiency, promote stable development, enhance profitability, and strengthen risk resistance, thereby increasing returns for public shareholders. Wang Xin is dedicated to the new energy industry, superhard materials, and artificial intelligence, with project reserves and deep technical accumulation in all three areas, perfectly aligning with Jiangte Electric's strengths and development direction in the new energy sector. Zhu Jun, as one of the actual controllers of Jiangte Electric since its restructuring, has held the positions of general manager, chairman, director, and honorary director, possessing high prestige and foresight in strategy within the company. He has a profound understanding of the industry and the company, leading the company to seize multiple historic opportunities in industry development. After this shareholding change, Wang Xin and Zhu Jun will become the actual controllers of Jiangte Electric, joining forces to optimize resource allocation and industrial layout, further enhancing the company's overall strength and profitability. The signing of this agreement is expected to have a positive and far-reaching impact on the company's future development. According to information on Jiangte Electric's official website, the company is headquartered in Yichun, Jiangxi, a national eco-civilization city known as the 'Lithium Capital of Asia', with over 30 subsidiaries and branches, covering industries in Jiangxi, Tianjin, Zhejiang, and abroad in Germany, engaging in businesses such as motors, lithium mining, and deep processing. In terms of performance, Jiangte Electric achieved total operating income of 2.103 billion yuan in 2024, a decrease of 24.86% year-on-year; the net profit attributable to the parent company was a loss of 319 million yuan, compared to a loss of 397 million yuan in the same period last year. Jiangte Electric expects a net profit loss attributable to the parent company of 95 million to 125 million yuan in the first half of 2025, compared to a loss of 64.0656 million yuan in the same period last year.