Changling Hydraulic: After the completion of equity changes and partial offers, the actual controller of the company will change to Hu Kangqiao

According to the announcement from Zhitong Finance APP, Changling Hydraulic (605389.SH) announced that on July 10, 2025, Wuxi Hexin Tingtao Technology Partnership (Limited Partnership) (hereinafter referred to as "Hexin Tingtao") signed the "Share Transfer Agreement on Jiangsu Changling Hydraulic Co., Ltd." with Xia Jifa and Xia Zemin, Jiangyin Chenglian Shuangying Investment Partnership (Limited Partnership) (hereinafter referred to as "Chenglian Shuangying," collectively referred to as "the Acquirers" with "Hexin Tingtao"). Xia Jifa and Xia Zemin plan to transfer a total of 43,211,700 unrestricted circulating shares of Changling Hydraulic held by them to Hexin Tingtao and Chenglian Shuangying, accounting for 29.99% of the total shares of Changling Hydraulic.

In addition, according to the provisions of the "Share Transfer Agreement," Wuxi Hexin Polang Technology Partnership (Limited Partnership) (hereinafter referred to as "Hexin Polang") intends to issue a partial tender offer to all shareholders of Changling Hydraulic, excluding Hexin Tingtao and Chenglian Shuangying, for 17,290,400 shares of Changling Hydraulic (accounting for 12.00% of the total shares of the listed company) in accordance with the relevant provisions of the "Measures for the Administration of Acquisitions of Listed Companies." After Hexin Polang issues the partial tender offer, Xia Jifa promises to effectively declare the acceptance of the offer for the 16,253,000 unrestricted circulating shares (accounting for 11.28% of the total shares of the listed company) he holds, and Lanhai Haolong promises to effectively declare the acceptance of the offer for the 1,037,400 unrestricted circulating shares (accounting for 0.72% of the total shares of the listed company) he holds. This tender offer is contingent upon Hexin Tingtao and Chenglian Shuangying acquiring the 43,211,700 shares of Changling Hydraulic held by Xia Jifa and Xia Zemin through a negotiated transfer. Xia Jifa and Lanhai Haolong promise that the above acceptance of the offer is irrevocable and shall not be disposed of during the tender offer period. Xia Jifa and Lanhai Haolong will cooperate with the listed company and the offeror to apply to the securities registration and settlement institution for the custody procedures of the shares accepted for the offer.

After the completion of this equity change and partial tender offer, the actual controller of the listed company will change to Hu Kangqiao. The company has applied to the Shanghai Stock Exchange, and its stock will resume trading on July 11, 2025 (Friday) at the opening