Zhangjiagang Industrial Development Group to become Jiangsu Guotai’s indirect controlling shareholder

CITIC Securities Company Limited has issued a financial adviser's report on the acquisition of Jiangsu Guotai International Group Company Limited. Zhangjiagang Industrial Development Group will acquire 100% of International Trade’s equity, held by the Zhangjiagang Municipal People's Government, through a gratuitous transfer.

Post-transfer, International Trade will remain the controlling shareholder of Jiangsu Guotai International Group, while Zhangjiagang Industrial Development Group will become its indirect controlling shareholder. The transaction, approved by the Zhangjiagang Municipal People's Government and the Zhangjiagang State-owned Assets Supervision and Administration Office, does not involve a purchase price and is exempt from a tender offer.

The change in actual control from International Trade to Zhangjiagang State-owned Assets Supervision and Administration Office is intended to boost state-owned asset operating efficiency and stimulate enterprise vitality. The acquisition is expected to maintain the company’s operational stability and protect the interests of small and medium-sized shareholders.