Hefei Snowky Elec Co Ltd

Snowky Electric’s second-largest shareholder, Anhui Zhidao Investment Co., Ltd., has sold its entire stake for approximately 296 million yuan. Natural person Liu Xiang acquired 23.1499 million shares at 12.80 yuan per share through a block trade, representing 12.6481% of the company’s total share capital. Upon completion of the transfer, Zhidao Investment no longer holds any shares in the company. The transaction does not trigger a mandatory tender offer, does not involve a related-party transaction, and will not result in a change of the controlling shareholder or the actual controller. The buyer, Liu Xiang, is 47 years old and has long been engaged in the manufacturing and trading of home appliance components. In the previous six months, he had already increased his stake in Snowky Electric by 418,600 shares through centralized bidding. Combined with this acquisition, his total shareholding will rise to 12.8768%, making him a significant shareholder second only to the controlling shareholder. Liu Xiang stated that this acquisition is based on his recognition of the company’s future development prospects and investment value.

Xueqi Electric shareholder Zhidao Investment has transferred all of its 23.1499 million shares in the company to Liu Xiang, representing 12.6481% of the total share capital, for a total consideration of 296 million yuan. The transfer price is 12.8 yuan per share. After the transaction, Zhidao Investment will no longer hold any shares in Xueqi Electric, and Liu Xiang's stake will rise to 12.8768%. Liu Xiang has long been deeply involved in the home appliance industry, primarily engaged in the manufacturing and trading of components such as washing machine deceleration clutches. This acquisition is based on recognition of the company's future development prospects and investment value. The transferor has committed to releasing the pledge on 14.82 million shares before closing, and the transferee has committed not to reduce holdings within 18 months.