KDTECH plans to change control rights, with a suspension period expected to not exceed 2 trading days
KDTECH announced that its controlling shareholder Shen Jialiang is planning to transfer 26%-29% of his shares to a state-owned holding enterprise, which may lead to a change in the company's control. This matter requires approval from the State-owned Assets Supervision and Administration and other departments. The company's stock will be suspended from trading starting September 1, 2025, with the suspension expected to last no more than 2 trading days
According to the Zhitong Finance APP, KDTECH (002516.SZ) announced that on August 30, 2025, it received a notification from its controlling shareholder and actual controller, Mr. Shen Jialiang, who is planning to transfer his shares in the company. Mr. Shen intends to transfer approximately 26%-29% of the company's total share capital to a state-owned holding enterprise, which may lead to a change in the company's control.
Currently, both parties are verifying and negotiating specific transaction plans and related matters, and no relevant agreements have been signed yet. The specific situation will be subject to the transfer agreement signed by both parties. This change in control still requires approval from relevant authorities such as the State-owned Assets Supervision and Administration Commission and must fulfill the requirements for filing a concentration of operators and obtain a decision or consent document from the antitrust authority indicating that no further review will be conducted or that it is not prohibited.
Following the company's application to the Shenzhen Stock Exchange, the company's stock will be suspended from trading starting September 1, 2025 (Monday), with the suspension expected to last no more than 2 trading days
