ZCE(SH:600121) Zheng Quan Zhi Xing·2025-03-28 14:42Core Viewpoint - The company is undergoing an internal restructuring of its subsidiary equity structure, which will not significantly impact its normal operations or financial results in the current and future periods [1][4]. Group 1: Equity Transfer Details - The company plans to transfer 60% equity of Zhengzhou Bowei Material Bidding Co., Ltd. from its wholly-owned subsidiary Zhengzhou Coal and Electricity Material Supply Co., Ltd. to itself, resulting in the company holding 80% of Bowei Bidding [1][2]. - The company will also transfer 30.51% equity of Zhengzhou Xianglong Geological Engineering Co., Ltd. from its wholly-owned subsidiary Zhengzhou Coal Industry (Group) Hengtai Disaster Governance Co., Ltd. to itself, increasing its total ownership to 54.92% [2][3]. Group 2: Purpose and Impact of the Transaction - The purpose of this transaction is to reduce the number of legal entities, adjust the subsidiary equity structure, and optimize internal resources to enhance management efficiency [4]. - The restructuring is classified as an internal integration within the consolidated financial statements and will not constitute a related party transaction [4]. Group 3: Procedural Aspects - The equity transfer and the cancellation of certain subsidiaries will require the completion of business registration changes and liquidation procedures, with the company committed to timely information disclosure as progress occurs [1][4]. - The board of directors has approved the restructuring without the need for a shareholder meeting vote, in accordance with relevant laws and regulations [4].