Xiangtan Electric: The transfer of state-owned equity without compensation has been completed, and the indirect controlling shareholder has changed.

Xiangtan Electric Chemical Industry announced that on October 23, 2025, Chan Investment Group will transfer 100% equity of Zhenxiang Guotou held by itself to Electric Chemical Industry for free. After the transfer, Chan Investment Group will no longer indirectly hold company shares, and Electric Chemical Industry will indirectly hold 265,813,397 shares of the company through Zhenxiang Guotou, accounting for 42.23% of the total share capital. Recently, the transfer of state-owned equity has been completed in the business registration, and the indirect controlling shareholder of the company has been changed from Chan Investment Group to Electric Chemical Industry, with Xiangtan Electric Chemical Group Co., Ltd. still the controlling shareholder, and the actual controller still being the Xiangtan State-owned Assets Supervision and Administration Commission.