On December 8, 2025, East Group announced that a change in the company's control is planned. Hubei Jingjiang Industrial Investment Group Co., Ltd. (“Jingjiang Industrial”) plans to spend approximately RMB 2.437 billion to acquire the company's shares and become the company's new controlling shareholder.
Upon completion of this transaction, the Jingzhou Municipal State-owned Assets Supervision and Administration Commission (Jingzhou SASAC) will become the actual controller of East Group.
The specific transaction details are as follows: Guangdong Hengrui, Oriental Group, and He Simo have signed an equity transfer agreement with Hubei Jingjiang Industrial Investment Group Co., Ltd. Guangdong Hengrui plans to transfer 418 million unlimited tradable shares of East Group (accounting for 17.93% of the company’s total share capital) to Jingjiang Industrial via an agreement transfer. Oriental Group will transfer 17 million listed company shares, which were originally pledged to Guangdong Hengrui (accounting for 0.72% of the company’s total share capital), to Jingjiang Industrial. In total, Jingjiang Industrial will acquire 434 million listed company shares (accounting for 18.66% of the company's total share capital).
At the same time, Oriental Group will irrevocably waive the voting rights attached to all the shares it holds in the listed company (722 million shares, accounting for 31.01% of the company’s total share capital).
The transfer price is set at ¥5.61 per share, totaling ¥2.437 billion.
It is understood that, upon completion of the transaction, East Group will continue to focus on its core business, deeply cultivating the research and development, manufacturing, and provision of system solutions for its three major strategic business segments: smart power supply, data centers, and new energy.
Source：EnergyTrend
