Shanghai Mechanical and Electrical announced that its controlling shareholder Shanghai Electric signed a share transfer agreement with Shanggong Investment Management. Shanghai Electric intends to privately transfer 51.137 million shares of the company to the transferee. Before the change in equity, Shanghai Electric directly held 491 million A-shares of the company, and through its wholly-owned subsidiary Shanghai Electric Hong Kong Limited, it held 8.1177 million B-shares of the company, accounting for a combined total of 48.81% of the company's total share capital. After the change in equity, Shanghai Electric's direct shareholding will decrease by 51.137 million shares, and its combined shareholding ratio will drop from 48.81% to 43.81%. Shanggong Investment Management will hold 51.137 million shares of the company, accounting for 5% of the company's total share capital. This change in equity will not result in a change in the company's controlling shareholder or actual controller