State Grid Yingda divests futures arm for 1.13 bn yuan

State Grid Yingda Co., Ltd. announced that its wholly-owned subsidiary, Yingda Securities Co., Ltd., plans to sell its 100% equity in Yingda Futures Co., Ltd. to China National Petroleum Corporation Capital Co., Ltd. for 1,129,286,232.00 yuan. The transaction price is based on an asset appraisal report, with a valuation date of March 31, 2025, confirming a total equity value representing an appreciation of 8.31% over the net asset book value of 1,042,673,100.00 yuan.

The transaction, approved by the company's ninth board of directors on December 26, 2025, is a cash sale. The payment will be made in two installments: 75% as the initial payment, totaling 846,964,674.00 yuan, on the closing date, with the remaining 25%, 282,321,558.00 yuan, paid after all prerequisite conditions are met.

The sale of Yingda Futures is expected to enhance the company's focus on its core businesses, optimize its operational structure, and increase cash flow for strategic transformation. The transaction is pending approval from state-owned asset regulatory authorities and the China Securities Regulatory Commission.