Zhejiang Windey to be acquired by parent company

** Zhejiang Windey (SZSE:300772) is set to be acquired by its parent company, Zhejiang Provincial Economic and Trade Group Co., Ltd., pending shareholder and regulatory approvals. The acquisition will see Zhejiang Provincial Economic and Trade Group increase its stake in Windey through a private placement of shares. The parent company will subscribe to no more than 84,643,288 shares at a price of 8.27 RMB per share, for a total investment of approximately 700 million RMB. Upon completion, Zhejiang Provincial Economic and Trade Group will increase its holdings in Windey from 40.01% to 46.50%. The acquisition aims to bolster Windey's capital structure and support its long-term development. The move qualifies for a waiver from a full takeover bid under Chinese regulations. All current board members will remain as such.