Guodian Nanjing Automation Parent to Transfer 40% Stake to China Huadian

Guodian Nanjing Automation announced that its controlling shareholder, Nanjing Automation General Factory, plans to transfer its 406,234,685 shares in the company, representing 40.00% of total share capital, to China Huadian for no consideration.

After the transfer is completed, Guodian Nanjing Automation's controlling shareholder will change from Nanjing Automation General Factory to China Huadian, while the State-owned Assets Supervision and Administration Commission of the State Council will remain the actual controller and control will not change.

The transfer does not involve a tender offer, still requires state-asset regulatory procedures, and the two transferring parties have not yet signed an agreement.