On the 20th of this month, EVE Energy made an announcement stating its intention to carry out an equity swap with SK On, a South Korean battery manufacturer. The primary objectives of this move are to untangle cross-shareholding arrangements and enhance resource consolidation. Before the deal, EVE Power possessed a 51% ownership in EVE Jinenergy, whereas SK On held a 49% share. Additionally, SK On had a 70% stake in SK New Energy (Jiangsu), with EVE Power Hong Kong controlling the remaining 30%. Fundamentally, this transaction entails a reciprocal exchange of equity shares in EVE Jinenergy and SK New Energy (Jiangsu) between the two entities. Once the transaction is finalized, EVE Energy will indirectly assume full ownership of EVE Jinenergy, and SK On will directly take complete control of SK New Energy (Jiangsu). This strategic maneuver will empower EVE Energy to bolster its operational oversight of EVE Jinenergy, in line with its long-term strategic vision.