Yubang Electric Power (688597.SH) plans to acquire 10% of Yubang Zhiyuan's minority shareholders' shares for 30 million yuan

Zhitong Finance App News, Yubang Electric Power (688597.SH) announced that the company plans to use its own capital of RMB 30 million to acquire Wang Jiale, a minority shareholder of the holding subsidiary Yubang Zhiyuan Technology (Jiaxing) Co., Ltd. (hereinafter referred to as “Yubang Zhiyuan” or the “target company”), and Jiaxing Ruiyuan Yongyu Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Ruiyuan Yongyu”) held 10% of Yubang Zhiyuan's 34% shares. After the acquisition is completed, the company's direct shareholding ratio of Yubang Zhiyuan will increase by 66% to 76%.

The target of this transaction is some minority shareholders' equity in the company's holding subsidiary. After the transaction is completed, the company will further strengthen its ability to integrate resources, improve operational efficiency, and help unify the management of the energy storage business. The acquisition is in line with the company's strategic positioning, does not bring new investment risks, and is conducive to improving overall business competitiveness.