Yinghe Technology’s Controlling Shareholder Plans to Transfer 184 Million Shares
Yinghe Technology, the parent company of renowned e-cigarette brand Sikary, announced on December 4 a significant development regarding its ownership structure. Shanghai Electric Group Co., Ltd., the major shareholder of Yinghe Technology, has outlined its intention to transfer its ownership of 184 million shares to its wholly-owned subsidiary, Shanghai Electric Automation Group Co., Ltd.
This transaction accounts for 28.39% of the total share capital of Yinghe Technology and will be carried out without any compensation. Importantly, this equity transfer will not impact the company’s control rights. The ultimate controlling shareholder of Yinghe Technology, the Shanghai State-owned Assets Supervision and Administration Commission, will remain unchanged.
By transferring these shares to its subsidiary, Shanghai Electric Group aims to enhance operational efficiency and optimize its business structure. This strategic move seeks to unlock potential synergies within the broader organization, ultimately benefiting the stakeholders involved.
Yinghe Technology’s renowned subsidiary, Sikary, has secured a solid position in the e-cigarette industry, offering innovative and high-quality products to consumers worldwide. With this ownership transfer, the company aims to reinforce its leadership position and continue delivering exceptional vaping experiences to its loyal customers.
