Shaanxi Construction Engineering Group Corporation (600248.SH) intends to acquire a minority stake in its subsidiary to increase its control rights.

Shaanxi Construction Engineering Group Corporation (600248.SH) announced that, according to the previous capital increase agreement and in order to further increase control over its holding subsidiaries, the company intends to use its own funds to respectively acquire 12.3495% of the shares of Shaanxi Construction First Construction held by Industrial and Commercial Bank, and 22.1660% of the shares of Shaanxi Construction Mechanical Installation held by Industrial and Commercial Bank, at a price of 5.02 billion yuan each. The company also plans to use its own funds to respectively acquire 5.2428% of the shares of Shaanxi Construction Fifth Construction held by Shaanxi Jincheng Investment, and 12.1964% of the shares of Shaanxi Construction Installation held by Shaanxi Jincheng Investment, at a price of 4.02 billion yuan each. This transaction does not involve personnel placement, land leasing, etc., and will not result in changes to the company's consolidated financial statements scope, new related party transactions, or industry competition. The company will hold 100% of the shares in Shaanxi Construction First Construction, Shaanxi Construction Mechanical Installation, Shaanxi Construction Fifth Construction, and Shaanxi Construction Installation, further strengthening its control over these four holding subsidiaries. This will not have a significant impact on the company's future financial condition and operating results, nor will it harm the interests of the company and all shareholders, aligning with the company's long-term strategic development direction.