GoerTek's controlling shareholder completes increased stake, complies with regulations

GoerTek announced that its controlling shareholder, Goertek Group, has completed its planned increase in shareholding, acquiring an additional 46,439,630 shares through the Shenzhen Stock Exchange. The move raises Goertek Group's stake to 15.90%, and combined with its affiliates, it now controls 31.77% of GoerTek. Beijing Tianyuan Law Firm provided a legal opinion confirming the transaction's compliance with relevant regulations, including the Securities Law and the Acquisition Management Measures. The total consideration paid was CNY999,935,688.66. GoerTek emphasized the move demonstrates Goertek Group's confidence in the company's long-term prospects and commitment to shareholder value. The shareholding increase qualifies for an exemption from issuing a mandatory offer due to Goertek Group already holding over 30% stake for longer than 1 year.