Zheng Quan Shi Bao·2025-11-09 22:54Core Viewpoint - The strategic cooperation between two major state-owned enterprises, China Electronics Technology Group (China Electric) and China Electronics Corporation (China Electronics), has been announced, involving significant share transfers in listed companies [1][6]. Group 1: Share Transfers - China Electronics' subsidiary, Shenzhen Sanda Co., Ltd. (Deep Sanda A), disclosed that its controlling shareholder, China Electric International, will transfer 22.6795 million shares (1.9930% of total shares) to China Electric's wholly-owned subsidiary, China Electric Taiji [1][3]. - Additionally, China Electric International will transfer 11.573 million shares (1.0170% of total shares) of Deep Sanda A to China Electric's subsidiary, China Electric Investment Holdings, with both transactions priced at 5.71 CNY per share [3][4]. - Following these transactions, China Electronics' stake in Deep Sanda A will decrease from 47.2314% to 44.2214%, while China Electric will hold 3.01% [3][6]. Group 2: Taiji Shares - China Electric Taiji also announced the transfer of 19.1567 million shares (3.0738% of total shares) to China Electronics' subsidiary, China Electric International, at a price of 8.41 CNY per share [4][6]. - Furthermore, China Electric Investment will transfer 9.7756 million shares (1.5685% of total shares) to China Electric International, with the same share price [4][6]. - Upon completion of these transactions, China Electric will hold a total of 34.1149% of Taiji shares, maintaining its status as the actual controller, while China Electronics will indirectly control 4.6423% of Taiji [6]. Group 3: Strategic Intent - Both companies stated that the share transactions aim to deepen strategic cooperation among state-owned enterprises, enhance industrial synergy, and create a collaborative ecosystem to better serve the development of the national digital economy [6][8]. - The transactions are subject to approval from the State-owned Assets Supervision and Administration Commission and compliance confirmation from the Shenzhen Stock Exchange [7]. Group 4: Company Background - China Electric, established in 2002 with a registered capital of 20 billion CNY, is a key state-owned enterprise directly managed by the State Council, focusing on military electronics and national strategic technology [7]. - China Electronics, founded in 1989 with a registered capital of approximately 18.5 billion CNY, is also a significant state-owned enterprise, primarily engaged in the information technology sector [7].