Landai Technology(SZ:002765) Zheng Quan Zhi Xing·2025-07-14 16:25Core Viewpoint - The financial advisor, Huatai United Securities, has conducted a thorough review of the equity change report for Landai Technology Group Co., Ltd, confirming the accuracy and completeness of the disclosed information and the legitimacy of the equity transfer transaction [2][3][6]. Group 1: Equity Change Overview - The equity change involves Anhui Jiangdong Industrial Investment Group Co., Ltd acquiring 117,383,000 shares of Landai Technology, representing 18.00% of the total share capital, from Zhu Tangfu [5][15]. - The total transaction price for the shares is RMB 1,347,556,840, with a per-share price of RMB 11.48 [27]. - Following the transaction, Jiangdong Investment will become the controlling shareholder of Landai Technology, with the actual controller being the Ma'anshan Municipal Government [15][16]. Group 2: Purpose and Future Plans - The purpose of the equity change is to gain control over Landai Technology, enhancing its competitive position and supporting its long-term development [7][8]. - Jiangdong Investment has no immediate plans to increase its stake in Landai Technology within the next 12 months [7][8]. - There are no plans for significant changes to the main business or major asset transactions within the next 12 months [18][19]. Group 3: Financial and Operational Status - Jiangdong Investment's financial data for the years 2022 to 2024 shows total assets decreasing from RMB 1,114,743.92 million in 2022 to RMB 943,856.92 million in 2024, with a corresponding drop in total liabilities [12]. - The company reported a net profit of RMB 40,332.28 million for 2024, up from RMB 36,298.79 million in 2023 [12]. Group 4: Compliance and Governance - The financial advisor has confirmed that Jiangdong Investment has complied with all necessary legal and regulatory requirements for the equity change [6][14]. - Jiangdong Investment has committed to maintaining the independence of Landai Technology post-acquisition, ensuring no conflicts of interest arise [22][24]. - The company has also pledged to avoid any direct competition with Landai Technology and to adhere to fair practices in any future related transactions [25][26].