Autel Intelligent to boost related party transactions, divest stake

Autel Intelligent Technology Corp will convene its second extraordinary general meeting in 2025 to consider significant related party transactions and an equity transfer. The company proposes increasing the 2025 daily related party transaction limit by 126 million yuan, raising the total estimated annual amount to 176 million yuan. These transactions, primarily involving purchases and sales of products and services with Autel Smart Aviation Technology Co., Ltd. and Shenzhen Saifang Technology Co., Ltd., are deemed necessary for business development and operational needs.

Furthermore, Autel Intelligent plans to transfer its entire 46% equity stake in Shenzhen Saifang Technology Co., Ltd. to seven employee stock ownership platforms, Shenzhen Daohetongyao Information Consulting Enterprise (Limited Partnership), and Zhao Guanjie. The total consideration for this equity transfer is 108.56 million yuan, to be paid in cash. This move, based on an asset valuation of 236 million yuan for Saifang Technology, aims to optimize the company's asset structure and mitigate operational risks.

The company previously received 35.605 million yuan for a separate equity transfer and recently extended the payment deadline for the outstanding amount by 24 months. These proposals underscore Autel Intelligent’s focus on streamlining its portfolio and reinforcing its core business operations.