Shanghai STEP Electric Surges 10% After Haier Takes Controlling Stake

MT Newswires Live

Feb 18, 2025

Shanghai STEP Electric (SHE:002527) shares surged 10% after Haier CoaXus Industrial Intelligence agreed to take a controlling stake in the industrial robot manufacturer.

Ji Defa, Liu Liping, and Ji Yi on Feb. 14 signed an agreement to transfer 66,306,129 shares in the company to Haier CoaXus Industrial Intelligence, according to a Monday filing with the Shenzhen bourse.

They also signed voting rights entrustment and acting-in-concert agreements, entrusting the voting rights of their remaining 127,583,569 shares to Haier CoaXus Industrial Intelligence.

As a result, Haier CoaXus Industrial Intelligence will control voting rights for 193,889,698 shares, or 29.2% of the total, making it the new controlling shareholder, with Haier Group as the ultimate controlling entity.

Following a planned private share issuance, Haier CoaXus Industrial Intelligence is expected to hold 218,810,226 shares of Shanghai STEP Electric.

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