Guangxi Dongfang Zhizao gets new controlling shareholders in $100m deal

Guangxi Dongfang Zhizao Technology Co. (SZSE:002175) has detailed an equity change, announcing that Guangxi Modern Logistics Group Co. and Guangxi Guimu Logistics Technology Co. will acquire a combined 183 million shares, representing 14.33% of the company's total share capital. The acquisition price is set at 4.00 yuan per share, totaling 732m yuan. This transaction will make Guangxi Modern Logistics Group the controlling shareholder and Guangxi SASAC the actual controller.

The equity transfer agreement includes a performance compensation clause, with the target company's subsidiaries, Guilin Guanglu Digital Measurement and Control Co. and Mingke (Shandong) Intelligent Manufacturing Co., committing to a cumulative net profit of 45m yuan over three years (2026-2028). Additionally, the agreement stipulates an asset divestment plan. In a related announcement, Guangxi Dongfang Zhizao announced a change in its auditing firm's signing project partner, with Fu Lizhen replacing Li Li as the lead signing accountant for the 2025 financial year.

The new controlling shareholders intend to propose adjustments to the board of directors and senior management, with all board members and key executives to be nominated by the acquirers. They also plan to ensure the company's financial controls and internal oversight are maintained. The acquirers have affirmed their commitment to the company's long-term sustainable growth and will comply with all legal and regulatory requirements for any future adjustments to operations or assets.