Aerospace Machinery (600151.SH) intends to transfer 81.7552% equity of Lianyungang Shenzhou New Energy Co., Ltd.

China Fortune Financial News APP, Aerospace Electric (600151.SH) announced that since the second half of 2023, the profitability of industry companies has been continuously under pressure due to the overcapacity in the photovoltaic industry and "internal competition" in prices. In the context above, the company plans to transfer its 81.7552% equity stake in Lianyungang Shenzhou New Energy Co., Ltd. (referred to as "Lianyungang New Energy"), which is in line with the company's established direction for industrial restructuring.