Kuangda Technology control shifts to Zhuzhou state-owned assets commission

Kuangda Technology Group (SZSE:002516) has announced a pivotal change in its controlling shareholder and ultimate controller, effective November 24, 2025. Hunan Gaoke Investment Holding Group Co., Ltd., through Zhuzhou Qichuang No. 1 Industrial Investment Partnership (Limited Partnership), will acquire 411,834,831 shares of Kuangda Technology, representing 28% of the company's total share capital. The acquisition price is set at CNY 5.39 per share, totaling CNY 2,219,789,739.09.

This transaction follows an initial share transfer agreement on September 5, 2025, where Shen Jielin, the former controlling shareholder, agreed to transfer his holdings. The deal has already received anti-monopoly approval from the State Administration for Market Regulation, as disclosed on November 13, 2025.

Upon completion, Shen Jielin will cease to be the controlling shareholder. Zhuzhou Qichuang will become the new controlling shareholder, and the Zhuzhou Municipal People's Government State-Owned Assets Supervision and Administration Commission will become the ultimate actual controller of Kuangda Technology. The change is still subject to compliance confirmation from the Shenzhen Stock Exchange and share registration procedures.