Zhiguang Electric has decided to terminate the issuance of shares and cash payment for asset purchase and supporting fund-raising, as well as the related connected transaction. The original plan to acquire a 27.18% stake in its controlling subsidiary Guangzhou Zhiguang Energy Storage Technology has therefore been shelved. The company explained that, given major changes in the current market environment compared with the early planning stage of the transaction, and taking into account the actual situation of the parties involved, it decided to terminate the transaction after prudent consideration and friendly consultation with the counterparties. As one of the counterparties, Cooltech Power disclosed the termination on the same day. It currently holds a 5.1799% stake in Zhiguang Energy Storage and had originally been expected to receive 22.4047 million shares issued by Zhiguang Electric and cash consideration of 4.4348 million yuan. Zhiguang Electric stressed that its production and operations are currently normal, its energy storage related business is in a stage of rapid development, and there are no circumstances under which the company or related parties need to bear liability for breach of contract. The company's 2026 semi-annual report released on the same day showed that net profit attributable to the parent company in the first half of the year was 43.835 million yuan, a sharp turnaround from a loss of 55.1506 million yuan in the same period last year, an increase of 179.48%.
Guangzhou Zhiguang Electric Co LtdTermination of acquisition plan for 27.18% stake in subsidiary, shelving deal.
Shanghai Cooltech Power Co LtdAs counterparty, expected shares and cash consideration from terminated deal now void.
