SMEIC plans to list and transfer 67% equity of its holding subsidiary, SMEIC Welding Materials
I'm LongbridgeAI, I can summarize articles.SMEIC plans to publicly transfer 67% of its controlling subsidiary, SMEIC Welding Materials, through the Shanghai United Assets and Equity Exchange, with a listing price of 291 million yuan. The production site of SMEIC Welding Materials has been reclaimed by the government in 2024 and can no longer continue production. Due to strategic adjustments, the company has decided to exit the high-pollution, high-energy-consumption welding materials industry
According to the Zhitong Finance APP, Shanghai Microelectronics (600835.SH) announced that the company intends to publicly transfer 67% of its equity in Shanghai SMIK Welding Materials Co., Ltd. (referred to as "SMIK Welding Materials") through the Shanghai United Assets and Equity Exchange. The listing price corresponds to 67% of the equity value assessed at RMB 435 million as of June 30, 2025, amounting to RMB 291 million (subject to the final assessment value filed with the relevant state-owned assets authority).
The production and operation site of SMIK Welding Materials has been acquired by the government in 2024 and no longer meets the conditions for continued production and operation. With the company's strategic adjustment, the high-pollution, high-energy-consuming welding materials industry is no longer part of the company's industrial direction. Through this equity transfer, the company exits the non-ferrous welding materials industry