Siwei Technology (01202) issued an announcement. On February 5, 2024, the board of directors of the company was notified by the 29th Research Institute (29th Research Institute) of China Electronics Technology Group Corporation, the indirect controlling shareholder of the company. Chengdu Siwei Electronics signed an equity transfer agreement with Chengdu Siwei Hi-Tech on February 5, 2024, and Chengdu Siwei Electronics agreed to transfer 34% of the company's shares to Chengdu Siwei Hi-Tech free of charge.
Once the relevant documents are completed, the proposed restructuring will be completed. At that time, Chengdu Siwei Electronics, Chengdu Siwei Hi-Tech and members of the public will hold 26%, 34% and 40% of the company's shares respectively. Chengdu Siwei Hi-Tech will become the company's controlling shareholder. The 29th Research Institute and China Electronics Technology are still the indirect controlling shareholders and actual controlling shareholders of the company, respectively.