NanJing Public Utilities Development (000421.SZ) plans to acquire 68% stake in the electric two-wheeler charging and swapping company Yugu Technology. Trading will resume on January 13th.

NanJing Public Utilities Development (000421.SZ) announced that the company plans to purchase a total of 68% of the shares of Yugu Technology held by 22 transaction parties including Liu Aiming through the issuance of shares and payment of cash. At the same time, the company plans to issue shares to raise funds from no more than 35 specific objects who meet the conditions. As of the date of this proposal, the audit and evaluation work related to this transaction has not been completed, and the valuation of the target assets and the transaction price have not been determined. The target company of this transaction, Yugu Technology, is mainly engaged in battery exchange services and sales of charging and exchanging equipment. It is a manufacturer and service provider of charging and exchanging equipment for electric two-wheeled vehicles with AI capabilities, possessing core technology in intelligent energy management. It has become a well-known electric two-wheeled vehicle charging and exchanging enterprise nationwide. After the completion of this transaction, NanJing Public Utilities Development will gain control of Yugu Technology, which will be beneficial in fully leveraging synergies, rapidly developing the charging and exchanging business of NanJing Public Utilities Development, optimizing the layout of new energy businesses, and strengthening the new energy industry of NanJing Public Utilities Development. The company has applied to the Shenzhen Stock Exchange, and the company's stock will resume trading from Monday morning, January 13, 2025.