Hsino Tower (SH:601096) Qi Lu Wan Bao·2025-07-30 07:59Core Viewpoint - Hongsheng Huayuan (601096.SH) announced on July 28 that Shandong Electric Power Equipment Group Co., Ltd. will absorb and merge with Shaanxi Galaxy Electric Power Tower Co., Ltd. After the merger, Shaanxi Galaxy will be dissolved, and its 18,892,120 shares (7.06% of total shares) in Hongsheng Huayuan will be transferred to Shandong Electric Power Equipment in a non-trading manner, making it a direct shareholder of Hongsheng Huayuan [1][3]. Company Overview - Shandong Electric Power Equipment is a wholly-owned subsidiary of China Electric Equipment Group Co., Ltd. Shaanxi Galaxy is also a wholly-owned subsidiary of Shandong Electric Power Equipment [3]. - The merger aims to implement the strategic guidelines of optimizing state-owned capital layout and industrial structure adjustment, further optimizing the equity structure, strengthening control, and improving management efficiency [3]. - Following the merger, all assets, liabilities, licenses, and personnel of Shaanxi Galaxy will be legally inherited by Shandong Electric Power Equipment, along with all rights and obligations attached to Shaanxi Galaxy's assets [3]. Corporate Structure - Shandong Electric Power Equipment has several wholly-owned subsidiaries, including Shandong Power Equipment Co., Ltd., Beijing State Grid Fuda Technology Development Co., Ltd., and others [5]. - The company is part of a large-scale power equipment group in China, focusing on research, design, manufacturing, sales, and integrated solutions for power transmission and distribution equipment [8]. Financial Information - Shandong Electric Power Equipment Group Co., Ltd. was established in June 2010 with a registered capital of 350,000 million RMB [9].