Yifan Transmission announced on October 8 that its actual controller Liu Jincheng signed a share transfer agreement with the Guolian Tianyi Flexible Allocation No. 11 collective asset management plan under Guolian Securities Asset Management, planning to transfer 4.665 million unrestricted tradable shares at 24.20 yuan per share, representing 5% of total share capital, with a total transaction consideration of 112.89 million yuan. This transfer will not change the company's control. Before the transfer, Liu Jincheng held 33.56% of shares; after the transfer, this will drop to 28.56%, and he will remain the controlling shareholder and actual controller. The transaction does not trigger a mandatory tender offer and has no material impact on corporate governance or operations. The transferee, Guolian Tianyi Flexible Allocation No. 11, has filing number SGD442. Its manager, Guolian Securities Asset Management, was established in September 2023 with registered capital of 1 billion yuan and is wholly owned by Guolian Minsheng Securities. The asset management plan was established on October 8, 2026, had not previously held shares in Yifan Transmission, had not traded the company's stock in the past six months, and has no related-party or concerted-action relationship with Liu Jincheng. The transferee is optimistic about the company's long-term value and commits not to reduce its holdings within 12 months after share transfer registration; whether it will increase holdings later depends on market conditions and capital availability.
Jiangnan Yifan Motor Co.LtdActual controller Liu Jincheng transfers 5% stake to Guolian Tianyi fund for 112.89 million yuan, with no change in control and no material impact on operations.
