Yantai Guofeng completes Icewheel Environment acquisition, tender offer waived

Citic Securities Company Limited, acting as financial advisor, has issued its continuous supervision opinion regarding the waiver of a tender offer for shares in Icewheel Environment Technology Co., Ltd. by Yantai Guofeng Investment Holding Group Company Limited and its subsidiary, Yantai Guotai Chengfeng Asset Management Company Limited. The acquisition, completed on September 21, 2024, involved a gratuitous transfer of 102,790,679 shares (13.46% of total share capital) from Icewheel Holdings to Yantai Guofeng and 71,701,983 shares (9.39% of total share capital) from Yantai Guosheng to Guotai Chengfeng.

Prior to the acquisition, Yantai Guofeng indirectly controlled 269,376,365 shares, representing 35.27% of Icewheel Environment's total share capital. The transfer was conducted between entities under the same actual control of the Yantai Municipal State-owned Assets Supervision and Administration Commission, which qualifies for a waiver from a tender offer under Article 62 of the "Measures for the Administration of the Takeover of Listed Companies." The change in controlling shareholder from Icewheel Holdings to Yantai Guofeng did not alter the ultimate actual controller.

Citic Securities confirmed that the share transfer and registration procedures have been completed, and the acquirer and the listed company have fulfilled their information disclosure obligations. No violations of commitments or plans for major changes to the listed company's main business, assets, or management have been identified during the supervision period.