GAC Group: Subsidiary plans to transfer a 12% stake in Kunlun Blue Diamond to the controlling shareholder for approximately 1.92 billion yuan

2026-04-03 15:15:48

March 31, GAC Group (601238.SH) announced that its subsidiary Youwei Energy plans to transfer its 12% stake in Xinjiang Kunlun Blue Diamond Mineral Development Co., Ltd. to its controlling shareholder GAC Industrial Group at the appraised price. The transaction consideration is approximately RMB 1.92 billion. This transaction constitutes a related-party transaction, does not involve a material asset reorganization, and has been approved by the board of directors. After the transaction is completed, the company will still indirectly hold an 8% stake in the target company, but will no longer have significant influence, and the remaining equity will be accounted for as a financial asset. The move is intended to optimize the asset structure, revitalize non-core stock assets, and recover funds to focus on the company’s main business of complete automobile manufacturing.

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