China poly group becomes controlling shareholder of poly developments

China Poly Group Co., Ltd. is acquiring a 37.6918% stake, or 4,511,874,673 shares, in Poly Developments And Holdings Group from its wholly-owned subsidiary, Poly Southern Group Co., Ltd., through a gratuitous transfer. This transfer will result in China Poly Group directly holding 4,874,942,462 shares, representing 40.72% of Poly Developments' total share capital, making it the new controlling shareholder. Poly Southern Group will no longer hold any shares.

This internal restructuring within the state-owned assets will not alter the actual controller of Poly Developments, who remains China Poly Group. Beijing Deheng Law Firm's legal opinion confirms this transaction qualifies for an exemption from a tender offer, as it involves a transfer between entities under the same actual controller and does not change the listed company's actual controller.

In related news, Poly Developments' fourth extraordinary general meeting of shareholders for 2025, held on October 9, 2025, approved several proposals, including the issuance of company bonds. All resolutions were passed with over 99% approval, demonstrating strong shareholder consensus for future financial strategies.