Zhongda leader sells 50% stake in Shanghai Kotech

Ningbo Zhongda Leader Intelligent Transmission (SZSE:002896) announced the sale of its 50% equity stake in Shanghai Kotech Transmission Systems Co., Ltd. to Shanghai Yongli Belt Co., Ltd. The transaction, finalized on April 30, 2025, will see Yongli Belt acquire Zhongda Leader's entire share of Kotech, a company specializing in the R&D, production, and sales of electric rollers and related products. Based on an asset valuation report, the deal values Kotech's 50% equity at RMB 9.2777 million. With the sale, Zhongda Leader will no longer hold any shares in Kotech. According to the company, the sale will optimize Zhongda Leader's asset structure and resources. The company confirms that the transaction does not constitute a related-party transaction or a major asset restructuring and will not affect its consolidated financial statements.