Yufu Holdings sells stake in Chuanyi Automation, Sinomach to become ultimate controller

Chongqing Yufu Holdings Group Co., Ltd. has signed a share transfer agreement with China National Machinery Industry Corporation (Sinomach) and China National Instruments and Meters (Chongqing) Co., Ltd.

Yufu Holdings will transfer 54,668,322 shares, representing 10.65% of Chuanyi Automation’s total share capital, for 24.206 yuan per share, totaling 1.32 bn yuan. This transaction marks a key step in the previously announced change of control, transitioning the controlling shareholder from China Instrument and Meter Group Corporation (SILIAN Group) to China National Instruments and Meters (Chongqing) Co., Ltd. and the ultimate controller from Chongqing SASAC to Sinomach.

Following the transfer, Sinomach Instruments and Meters will hold 153,510,000 shares, representing 29.91% of Chuanyi Automation. SILIAN Group and its concerted parties' holdings will decrease significantly from 48.63% to 18.71%. The agreement also terminates the voting rights entrustment agreement signed on May 27, 2025.

The transaction is subject to approval by relevant state-owned assets authorities and compliance confirmation by the Shanghai Stock Exchange. Yufu Holdings has also committed not to seek control of Chuanyi Automation in the future, supporting Sinomach Instruments and Meters as the controlling shareholder.