Sichuan Shuangma’s controlling shareholder boosts stake in internal transfer

Beijing Hexie Hengyuan Technology Co., Ltd. (Hexie Hengyuan), the controlling shareholder of Sichuan Hexie Shuangma Co., Ltd., has agreed to acquire 48,786,912 unrestricted shares from LAFARGE CHINA OFFSHORE HOLDING COMPANY (LCOHC) LTD., a party acting in concert. This transaction, effective December 17, 2025, will see Hexie Hengyuan’s stake in Sichuan Shuangma increase from 26.52% to 32.91% of the total share capital.

The shares will be transferred at a price of yuan 22.32 per share, totaling yuan 1,088,923,875.84. Post-transfer, LCOHC’s holding will decrease from 16.55% to 10.16%. The overall combined stake of Hexie Hengyuan and its concert parties will remain at 50.98%, ensuring no change in controlling shareholder or actual control.

This share transfer is an internal restructuring between related parties and is not expected to impact Sichuan Shuangma’s financial health or ongoing operations. The transaction is subject to confirmation from the Shenzhen Stock Exchange and completion of transfer procedures with China Securities Depository and Clearing Corporation Limited. Hexie Hengyuan has committed to an 18-month lock-up period for the newly acquired shares.