Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-27 00:45Transaction Overview - The company plans to sell 48.6 million shares of Zhejiang Wanliyang Co., Ltd. (stock code: 002434) in the secondary market based on market conditions [2] - This transaction does not constitute a related party transaction or a major asset restructuring [2] - The transaction has been approved by the company's board of directors and does not require shareholder approval unless the amount reaches the threshold for such a review [2][6] Transaction Details - The company acquired the 48.6 million shares of Wanliyang in 2020 at an average price of 9.95 yuan per share, totaling a book value of 410.184 million yuan as of August 31, 2025 [8] - The board meeting on September 26, 2025, approved the sale with unanimous consent (11 votes in favor) [5] - The management is authorized to determine the timing, method, quantity, and price of the sale within 12 months from the board's approval [5] Target Company Information - Zhejiang Wanliyang Co., Ltd. was established on October 22, 2003, with a registered capital of 1.3126 billion yuan, primarily engaged in the research, production, and sales of automotive transmissions and other auto parts [7] - The company holds 3.70% of Wanliyang's total share capital, and there are no restrictions on the transfer of these shares [8] Impact on the Company - The shares are classified as other equity instruments measured at fair value, with changes recorded in other comprehensive income, meaning the sale will not directly impact the company's net profit [8] - Due to the volatility of stock prices in the securities market, the exact impact on the company's net assets from this transaction cannot be determined at this time [8]