Zhejiang Energy boosts stake in Ningbo Marine to 45%

Zhejiang Energy Fuel Group Co., Ltd. and its concerted parties have increased their combined stake in Ningbo Marine Co., Ltd. to 45.00% by December 15, 2025. This increase, which saw Zhejiang Energy Fuel Group acquire an additional 2,194,900 A-shares for a total of CNY 7,352,856, has been deemed exempt from a mandatory tender offer under Chinese securities regulations.

The acquisition was carried out through concentrated bidding on the Shanghai Stock Exchange between April 15, 2025, and December 15, 2025. The transaction represents an increase from their previous 44.81% holding, with the individual stake of Zhejiang Energy Fuel Group rising from 0.88% to 1.07%.

The move, approved by Zhejiang Energy Group Co., Ltd. on April 9, 2025, aligns with the company’s long-term investment strategy. The controlling shareholder and actual controller of Ningbo Marine remain unchanged. The acquiring parties confirm no material debt, legal violations, or changes to Ningbo Marine’s operational structure are expected.