Shang Hai Zheng Quan Bao·2025-11-14 19:29Core Viewpoint - The company, China Aviation Engine Corporation, has approved a proposal for its subsidiary, China Aviation Engine Southern Industrial Co., Ltd., to transfer up to 25 million shares of China Aviation Engine Control Co., Ltd. through a block trade to its controlling shareholder, China Aviation Engine Group Co., Ltd. [2][8] Summary by Sections Meeting Details - The 10th meeting of the 11th Board of Directors was held on November 14, 2025, with all 10 directors present, fulfilling the required quorum [1][3]. Proposal Approval - The board approved the proposal regarding the transfer of shares, with 4 votes in favor and no votes against or abstentions [3][18]. - The proposal had already been reviewed and approved by the independent directors prior to the board meeting [4][17]. Transaction Overview - The subsidiary plans to transfer up to 25 million shares of China Aviation Engine Control Co., Ltd., which represents approximately 13.78% of the total shares held by the subsidiary [8][11]. - The transaction will be conducted as a block trade and does not constitute a major asset restructuring as defined by regulations [8][15]. Related Party Information - The transaction involves China Aviation Engine Group Co., Ltd., which is the actual controller and major shareholder of the company, thus qualifying as a related party transaction [9][10]. Financial and Regulatory Aspects - The transfer price will be determined based on market conditions, with a minimum price set at 90% of the previous day's closing price [13]. - The transaction is expected to improve the cash flow and financial condition of the subsidiary without significantly impacting the company's overall operations [15].