Weidi Co., Ltd. (603023.SH)'s proposed acquisition of Jiuxing Precision Control is expected to constitute a major asset restructuring

Zhitong Finance App News, Weidi Co., Ltd. (603023.SH) announced that the company plans to acquire 51% of the shares of Jiangsu Zhiyue Tiancheng Enterprise Management Co., Ltd., the controlling shareholder of Jiangsu Jiuxing Precision Technology Co., Ltd. (hereinafter referred to as the “target company”) held by Hu Tao and Wan Hongjuan, and also by paying cash to transfer shares in the target company held by Hu Tao and other shareholders of the target company. It is expected to acquire no less than 51% of the voting rights corresponding to the shares of the target company. After the transaction is completed, the target company will become a holding subsidiary of the company, but the voting percentage that the company can obtain will not be confirmed until the parties reach a formal agreement.

The company signed the “Intentional Share Acquisition Agreement” (hereinafter referred to as the “Intentional Agreement”) with Hu Tao and Wan Hongjuan on December 8, 2025. The foregoing agreement is only an intentional agreement. The purpose is to express the parties' intention to cooperate. The specific transaction partner, transaction method, share acquisition ratio, transaction price, etc. are subject to the formal agreement signed by the parties. The target company still needs to change its limited liability company to a limited liability company before the transaction is settled. The transaction is still in the preliminary planning stage, and the specific plan of the transaction still needs further negotiation and verification by all parties involved in the transaction.

According to preliminary estimates, the transaction is expected to constitute a major asset restructuring as stipulated in the “Administrative Measures on Major Asset Restructuring of Listed Companies”. The transaction is intended to be in cash and does not involve the issuance of shares by a listed company. This transaction does not constitute a related transaction, nor will it cause a change in the control of the listed company.