GCL Energy Technology completes share transfer, new shareholder emerges

GCL Energy Technology announced that its controlling shareholder, Shanghai Qichen Enterprise Management, completed the transfer of 335,176,285 shares to Hangzhou Xinyu Enterprise Management on October 29, 2025. This transfer, representing 20.65% of the company's total share capital, was priced at CNY 10.3770 per share, totaling CNY 3,478,124,309.45. Hangzhou Xinyu now becomes a new 5% or more shareholder and an acting party in concert with the existing controlling shareholder.

Concurrently, Shanghai Qichen also released a pledge on 335,176,285 shares on the same date as the transfer. This transaction effectively cleared the pledged shares before their transfer to Hangzhou Xinyu. The shares were originally pledged to China CITIC Financial Asset Management.

Following these transactions, the total shareholding of the controlling shareholder and its parties acting in concert (Shanghai Qichen, Xiexin Chuangzhan, and Hangzhou Xinyu) remains unchanged at 48.03% of the total share capital. The company clarified that these changes will not impact the company's control or operations.