Aerospace Electric (600151.SH) plans to transfer its 81.7552% equity interest in Lianyungang New Energy.

China Finance App News, Aerospace Electromechanical (600151.SH) announced that, due to overcapacity in the photovoltaic industry and the impact of "internal competition" on prices, its subsidiary Lianyungang Shenzhou New Energy Co., Ltd. (referred to as "Lianyungang New Energy") lacks competitiveness. The company plans to transfer 81.7552% of its equity in Lianyungang New Energy. This move is beneficial for the company to improve the quality of asset operation and is in line with the company's established direction of industrial restructuring.