Shanghai Electric Group Company Limited (Shanghai Electric) has confirmed the outcome of its public tender to transfer 47.4% of subsidiary Shanghai Electric Guoxuan New Energy Technology Co., Ltd. (Electric Guoxuan). The winning bidder, Nanjing Gotion Holding Group Co., Ltd. (Nanjing Gotion Holding), will acquire the stake for a symbolic consideration of RMB1.

The equity transfer was listed on the Shanghai United Assets and Equity Exchange between 4 February 2026 and 8 April 2026. On 13 May 2026, the exchange notified Shanghai Electric that Nanjing Gotion Holding had become the transferee. A Property Rights Transaction Contract was signed on 21 May 2026; however, the effectiveness conditions of the agreement remain pending.

Nanjing Gotion Holding, incorporated on 15 April 2005, reported unaudited total assets of RMB4.42 billion and net assets of RMB1.31 billion as of 31 March 2026. The company’s principal business encompasses technical services and the sales and research of new-energy vehicle components. Li Zhen is the legal representative and ultimate controlling shareholder.

Shanghai Electric noted that there are no property or debt relationships with Nanjing Gotion Holding and that the counterparty maintains a good credit standing. Further disclosures will be made as the transaction progresses. Shareholders and potential investors are advised to exercise caution when trading Shanghai Electric’s securities.