Huaming Power Equipment sells Guizhou Changzheng Electric stake

Huaming Power Equipment announced the completion of the sale of its 100% equity stake in Guizhou Changzheng Electric Co., Ltd. to Shanghai XinJiahe Industrial Co., Ltd. for a total consideration of CNY 1 million. The agreement was formalized on April 30, 2025. The decision to sell was initially approved on April 14, 2025, during the company's sixth board meeting. The sale is projected to negatively impact the company's 2025 profit by approximately CNY -16.1 million. Huaming Power Equipment justified the sale as a means of optimizing asset allocation and mitigating potential legal risks, ensuring the company's stable development. The transfer of equity is expected to be completed within 30 days of the agreement's effective date. Post-transaction, Guizhou Changzheng Electric will no longer be included in Huaming Power Equipment's consolidated financial statements.