SDSL plans to purchase equity in several subsidiaries held by CHINA OIL & GAS
SDSL plans to acquire equity in CHINA OIL & GAS and its subsidiaries through the issuance of shares and cash payments. The transaction includes the acquisition of partial equity in China Oil Zhuhai, Tianda Shengtong, Nantong Zhongyou, and Ganhe Zhongyou. This letter of intent was signed on October 27, 2025. SDSL is listed on the Shenzhen Stock Exchange, with approximately 22.16% of shares issued
According to the announcement from China Oil & Gas (00603), on October 27, 2025, China Oil & Gas Investment Group Co., Ltd. (China Oil Investment), Tianda Litong New Energy (Zhuhai) Co., Ltd. (Tianda Litong), China Oil Zhongtai Gas Investment Group Co., Ltd. (China Oil Zhongtai), and Shandong Victory Co., Ltd. (Victory Co.) signed a letter of intent for the issuance of shares and cash payment for asset acquisition. According to this agreement, Victory Co. intends to acquire equity in several subsidiaries held by the group through the issuance of shares and cash payment.
The proposed transaction includes Victory Co. acquiring equity in the following companies: (1) 100% equity of China Oil Gas (Zhuhai Hengqin) Co., Ltd. (China Oil Zhuhai) held by China Oil Investment; (2) 100% equity of Tianda Shengtong New Energy (Zhuhai) Co., Ltd. (Tianda Shengtong) held by Tianda Litong; (3) 51% equity of Nantong China Oil Gas Co., Ltd. (Nantong China Oil) held by China Oil Zhongtai; (4) 40% equity of Qinghai China Oil Ganhehai Industrial Park Gas Co., Ltd. (Ganhe China Oil) held by China Oil Zhongtai.
Victory Co. is a joint-stock company established in China, and its issued shares are listed and traded on the main board of the Shenzhen Stock Exchange (stock code: 000407), with the group holding approximately 22.16% of its issued shares
