GSAFETY(SZ:300523) Zhong Guo Ji Jin Bao·2025-11-27 14:52Core Viewpoint - Changan Technology is planning to issue A-shares to Hefei State Capital Venture Investment Co., Ltd., which may lead to a change in the company's control [2] Group 1: Company Actions - Changan Technology announced on November 27 that it is preparing to issue A-shares to Hefei State Capital, aiming to deepen cooperation and integrate resources in the public safety industry [2] - The issuance may result in a change of control for Changan Technology, with specific plans still under discussion [2] - The stock of Changan Technology will be suspended from trading starting November 28, 2025, for no more than two trading days due to this uncertainty [2] Group 2: Shareholding and Market Impact - Hefei State Capital currently holds 7.22% of Changan Technology's shares, and the existing major shareholder, China Telecom Group, will maintain its shareholding post-issuance [2] - Hefei State Capital is a well-known investor in China, with a reputation for successful investments, including in BOE Technology Group [2] - Following the announcement, Changan Technology's stock price opened significantly higher, reaching a peak increase of over 14%, but closed at 26.2 yuan per share, down 2.42%, with a market capitalization of 6.1 billion yuan [3] Group 3: Financial Background - As of December 31, 2024, Hefei Construction Investment Holding Group, which fully owns Hefei State Capital, has total assets of 741.301 billion yuan and net assets of 247.669 billion yuan [3] - The group has over 60 wholly-owned and controlled enterprises, including three listed companies, ranking among the top three in the national urban investment sector [3]