NARI Tech restructuring: State-owned asset transfer approved

NARI Technology [SSE:600406] announced a proposed restructuring, with its direct controlling shareholder, Nanrui Group, transferring its 4,135,564,206 shares (51.49% of total share capital) to State Grid Electric Power Research Institute (SGEPRI). Upon completion, SGEPRI will directly hold 4,570,558,438 shares or 56.90% of NARI Technology, becoming the direct controlling shareholder, while Nanrui Group will no longer hold any shares. The ultimate controller remains the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Shanghai Dongfang Huayin Law Firm provided a legal opinion affirming the legitimacy of the transfer. The restructuring is intended to optimize the corporate structure following guidance from SASAC. As of April 11, 2025, the transfer still requires further approvals, including regulatory approvals. NARI Technology's core businesses and management will remain unchanged.