GUANGXI RADIO AND TELEVISION plans a major asset swap to acquire no less than 51% equity in Jiaoke Group

According to the announcement from Guangxi Radio and Television (600936.SH), the company received a "Notice Letter" from its controlling shareholder, Guangxi Beibu Gulf Investment Group Co., Ltd. ("Beitou Group") on January 17, 2025. Beitou Group intends to swap no less than 51% of its shares in Guangxi Jiaoke Group Co., Ltd. ("Jiaoke Group") with the company's 100% equity in Guangxi Radio and Television Network Technology Development Co., Ltd. ("Radio and Television Technology"). The transaction price for the assets being swapped is expected to have no difference, does not involve issuing shares to purchase assets, and does not involve cash payment.

Through this transaction, Guangxi Radio and Television will acquire no less than 51% equity in Jiaoke Group while divesting 100% equity in Radio and Television Technology. After the transaction is completed, the listed company will focus on "digital intelligence engineering, digital intelligence information, surveying and design consulting, testing and monitoring, and new material research and production sales" as its main business, achieving a strategic transformation of its operations.

The announcement indicates that this transaction constitutes a related party transaction. According to preliminary research and calculations, this transaction is expected to constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies" and will not lead to changes in the company's controlling shareholder and actual controller