Zhejiang Shuanghuan Driveline (002472.SZ) plans to spin off its subsidiary Huandong Technology and list it on the Science and Technology Innovation Board of the Shanghai Stock Exchange.

Zhejiang Shuanghuan Driveline (002472.SZ) announced that the company plans to spin off its subsidiary Zhejiang Huandong Siasun Robot & Automation Joint Technology Co., Ltd. (referred to as "Huandong Technology") for listing on the Sci-Tech Innovation Board of the Shanghai Stock Exchange. After the completion of this spin-off, the equity structure of Zhejiang Shuanghuan Driveline will not change, and it will still maintain controlling interest in Huandong Technology. It is reported that Huandong Technology is a subsidiary of the listed company specialized in the research, design, production, and sales of high-precision RV reducers for Siasun Robot & Automation, mainly used in the industrial Siasun Robot & Automation, industrial automation, and other high-end manufacturing fields. Its main products, applications, downstream customers, etc. are different from the other business segments of the company, and Huandong Technology maintains business independence from the other business segments of the listed company. The independent listing of Huandong Technology is beneficial for the listed company to focus more on the gear business, enhance its core competitive advantage in the global gear industry, emphasize its core business, and increase independence. Huandong Technology will focus on RV reducers in high-end manufacturing fields such as industrial Siasun Robot & Automation and industrial automation, allowing both the listed company and Huandong Technology to concentrate resources on their respective core businesses, further emphasizing their core business, strengthening specialized management of different businesses, and enhancing independence. Therefore, this spin-off is conducive to the listed company focusing on its core business, further consolidating and leveraging its core strengths, enhancing sustainable operational capabilities, and independence.