Jiangnan Chemical sees internal share transfer under same control

Anhui Jiangnan Chemical Industry (SZSE:002226) has announced a proposed share transfer that will see 32 million shares (1.21% of total share capital) shift from Guangxi Jianhua Machinery Co., Ltd. to China Ordnance Investment Management Co., Ltd., both entities under the ultimate control of China兵器工业集团. This transfer triggers an obligation to disclose a summary of an acquisition report as China Ordnance Investment Management Co., Ltd.’s holdings will exceed 30%. However, a full tender offer is not required as the transfer occurs within entities under the same controlling entity, ensuring no change in ultimate control of Anhui Jiangnan Chemical Industry.