Sichuan Kexin Mechanic ElectricAcquires an additional 23.84% stake in Kedefu for zero yuan, raising its holding to 62.25% and gaining control with no cash outlay.

Kexin Mechanical & Electrical announced that it signed an equity transfer agreement with Kelifu, a shareholder of its associate Kedefu. Because Kelifu failed to meet the 2022-2024 performance assessment targets, triggering the equity compensation clause, Kelifu transferred its 23.84% stake in Kedefu to the company free of charge at zero yuan, corresponding to a registered capital contribution of 4.2904 million yuan. After the transfer, the company's shareholding in Kedefu will rise from 38.41% to 62.25%, making it the controlling shareholder, and Kedefu will be included in the company's consolidated financial statements. This transaction requires no cash payment and will not adversely affect the company's cash flow.
Sichuan Kexin Mechanic ElectricAcquires an additional 23.84% stake in Kedefu for zero yuan, raising its holding to 62.25% and gaining control with no cash outlay.
Kelifu forfeits its 23.84% stake in Kedefu free of charge after failing the 2022-2024 performance assessment targets.
Kedefu's ownership shifts as Kexin becomes controlling shareholder and consolidates it, with no direct operational impact stated.