Tongyu Heavy Industry announced on the evening of September 28 that it plans to transfer 100% equity in its wholly owned subsidiary Changzhou Haijie Metallurgical Machinery Manufacturing Co., Ltd. through public listing on a property rights exchange. The process is currently in the pre-disclosure stage before formal listing, and the counterparty and transaction price remain undetermined. Changzhou Haijie has registered capital of 130 million yuan. In 2025, it achieved operating revenue of 151 million yuan and a net loss of 30.36 million yuan. As of the end of 2025, its total assets were 480 million yuan, total liabilities were 312 million yuan, and net assets were 168 million yuan. From January to June 2026, Changzhou Haijie achieved operating revenue of 77.39 million yuan and net profit of 33.48 million yuan. The announcement explained that the turnaround to profitability was due to receiving dividends from its wholly owned subsidiary Yucheng Haijie New Energy Engineering Co., Ltd. As of the disclosure date of the announcement, Changzhou Haijie had transferred all equity in Yucheng Haijie to Tongyu Heavy Industry through a non-public agreement transfer, making it directly held by Tongyu Heavy Industry. Tongyu Heavy Industry stated that this transfer aligns with the company's strategic plan to focus on its main business and accelerate transformation and development. After the transfer is completed, the company will no longer hold any equity in Changzhou Haijie, and it will no longer be included in the consolidated financial statements. On the same day, Tongyu Heavy Industry announced that its controlling shareholder Shandong Guohui Capital had cumulatively increased its holdings in the company by 40.36 million shares from July 28 to September 28, 2026, accounting for 1.00% of total share capital, with an increase amount of approximately 110 million yuan, raising its shareholding ratio to 16%.
Tongyu Heavy IndustryPlans to publicly list/transfer 100% of loss-making subsidiary Changzhou Haijie, aligning with strategy to focus on main business; counterparty and price undetermined.
