Chint Electrics boosts Aneng stake, renews financial services

Zhejiang Chint Electrics Co., Ltd. has announced the renewal of its financial services agreement with Chint Group Finance Co., Ltd. for a three-year term. The agreement covers credit and deposit services, with daily maximums of 750 million yuan for loans and 1.03 billion yuan for deposits. Deposit rates will align with People's Bank of China policies and not be lower than those of major domestic commercial banks, while loan rates will be negotiated but not exceed domestic commercial bank rates. This related-party transaction has been approved by the board and independent directors and awaits shareholder approval.

In a separate but related move, Chint Electrics will acquire additional equity in its controlled subsidiary, Chint Aneng Digital Energy (Zhejiang) Co., Ltd., through its holding platforms, Leqing Tahe and Leqing Juetai. The company will purchase equity stakes totaling 39.70 million yuan in Leqing Tahe and 55.80 million yuan in Leqing Juetai for a combined transaction price of 1.249 billion yuan. This acquisition will increase Chint Electrics' direct and indirect ownership in Chint Aneng from 64.13% to 68.14%, reinforcing its strategic control and operational efficiency. The transaction is based on a valuation report by Kunyuan Assets Appraisal Co., Ltd., with Chint Aneng valued at 35.3 billion yuan, confirming the fairness and reasonableness of the pricing.

Both matters, along with revisions to the company's fundraising management and external guarantees, are slated for consideration at the third extraordinary general meeting on November 4, 2025. This comprehensive approach aims to optimize capital allocation and strengthen financial risk management for Chint Electrics and its subsidiaries.