Landai Technology's proposed change of control has been approved by the Anhui Provincial State-owned Assets Supervision and Administration Commission, but uncertainties remain

On July 9, 2025, Zhu Tangfu, the actual controller of Landai Technology, and Jiangdong Chantu signed a "Share Transfer Agreement," in which Zhu Tangfu plans to transfer 117 million shares for a transfer price of 1.348 billion yuan, while also signing a "Voting Rights Waiver Agreement." If completed, the controlling shareholder will change to Jiangdong Chantu, and the actual controller will become the Ma'anshan Municipal Government. Recently, the company received approval from the Anhui Provincial State-owned Assets Supervision and Administration Commission, agreeing to Jiangdong Chantu obtaining control through "agreement transfer + voting rights waiver." Zhu Junhan also issued a "Letter of Commitment." However, this change of control still requires approval through antitrust review, Shenzhen Stock Exchange compliance review, and share transfer procedures, which presents uncertainties. The company will disclose progress in a timely manner