TBEA subsidiary acquires controlling stake in cable manufacturer

TBEA Co., Ltd. announced that its wholly-owned subsidiary, TBEA Electric Apparatus Group Co., Ltd., will acquire 74.1942% of Yangzhou Shuguang Cable Co., Ltd. for 946,481,443 yuan. This strategic move, approved by TBEA's Board on October 16, 2025, aims to boost TBEA's market share in high-end cable products, specifically in nuclear power and rail transit.

In related developments, TBEA plans to issue multi-variety non-financial enterprise debt financing instruments (DFI) with no set registration amount, allowing for flexible issuance based on market conditions. Additionally, TBEA's controlling subsidiary, TBEA Xinjiang New Energy Co., Ltd., will issue its first phase of on-balance sheet REITs, a 1.5 billion yuan asset-backed special plan, to optimize its capital structure and enhance asset turnover.