EGing Photovoltaic control shifts after controlling shareholder’s share auction

EGing Photovoltaic Technology Co., Ltd. announced on September 27, 2025, that its controlling shareholder, Shenzhen Weizhi Energy Co., Ltd., no longer holds company shares after a judicial auction. Weizhi Energy's 150,000,000 unrestricted tradable shares, representing 12.67% of the total share capital, were successfully auctioned in three tranches. Each tranche of 50,000,000 shares went to Li Yantao, Yang Xiqing, and Zhang Shouchun. The transactions were completed between August 27 and September 9, 2025.

The company stated that the change in control resulted from the judicial transfer of shares, and it no longer has a single controlling shareholder or actual controller. Each of the three buyers acquired their shares for approximately 3.05 yuan to 3.08 yuan per share. According to the company's internal verification and legal review, there is no evidence of a concerted action relationship, or financial dealings between the buyers or with the former controlling shareholder, current directors, supervisors, or senior management.

EGing Photovoltaic's board of directors, comprising nine members, now includes three independent directors, one senior management director, two directors from a Changzhou Jintan District government investment platform, and three directors nominated by Weizhi Energy. The company asserts that the current equity structure is dispersed, and no single shareholder holds sufficient voting power to control the board or influence general assembly resolutions.