EGing Photovoltaic Technology's controlling shareholder fully divests stake

EGing Photovoltaic Technology announced a change in equity, with its former controlling shareholder, Weizhi Energy, reducing its stake to 0% from an initial 8.45% (100 million shares) held prior to the latest change. This reduction occurred through judicial auction transfers completed on September 8 and 9, 2025. The transfers included 50 million shares to Li Yantao for CNY 15,378,000, 50 million shares to Yang Xiqing for CNY 15,228,000, and 50 million shares to Zhang Shouchun for CNY 15,328,000. These transactions are non-trade transfers resulting from court rulings.

Weizhi Energy previously held 150 million unrestricted shares (12.67% of the total share capital) of EGing Photovoltaic Technology. Earlier in 2025, it transferred 50 million shares on September 1, 54,696,214 shares on May 9, and 50 million shares on August 11, reducing its total holdings through various non-trade transfers. As a result, Weizhi Energy no longer holds any shares in EGing Photovoltaic Technology, leading to a change in the company’s controlling shareholder.

This change in equity is not expected to trigger a mandatory tender offer. However, the company noted that the control change might lead to a risk of no actual controller, potentially impacting EGing Photovoltaic Technology’s equity structure, operations, and corporate governance. The recipients of the judicially auctioned shares are prohibited from reducing their holdings for six months following the transfer.