On October 10, Tongwei Co., Ltd. issued an announcement stating that its acquisition of a 100% equity stake in Qinghai Lihao Clean Energy Co., Ltd. (hereinafter referred to as "Lihao Clean Energy") via share issuance and cash payment, alongside raising matching funds, remains in progress. The parties involved are currently continuing negotiations on the specific transaction plan, and uncertainties remain regarding future adjustments to the proposal and whether a final agreement can be reached.
According to the announcement, Tongwei intends to acquire the 100% equity stake in Lihao Clean Energy held by 57 shareholders—including Duan Yong, Hainan Zhuoyue, and Hainan Haoyue—through share issuance and cash payment. Simultaneously, the company plans to issue shares to up to 35 qualified specific investors to raise matching funds.
On March 10, 2026, Tongwei held a board meeting to review and approve the preliminary transaction plan and relevant resolutions. In September, Tongwei disclosed that the transaction had received the "Decision on Anti-Monopoly Review of Concentration of Undertakings Not to Prohibit" issued by the State Administration for Market Regulation (SAMR).
However, due to significant shifts in key factors with a major impact on the deal—such as the photovoltaic (PV) market environment—following the disclosure of the preliminary plan, the parties still hold differing views on specific terms. Consequently, Tongwei expects that it will be unable to issue a notice convening a shareholders' meeting within six months of the announcement date of the initial board resolution approving the transaction.
As of October 10, all parties remain in ongoing negotiations regarding the specific details of the transaction. Moving forward, Tongwei will carry out relevant procedures and fulfill its information disclosure obligations in accordance with applicable laws and regulations based on the progress of these discussions.
Source：EnergyTrend