On May 2, 2026, CEC Technology released an announcement detailing the progress of its significant asset restructuring initiative. On February 26 of the same year, the company entered into an 'Intent Agreement' with Yu Yingzhong, Zhu Lijuan, and Yu Biao, the key shareholders of Yingzhong Electric. The agreement outlines CEC Technology's intention to acquire no less than 51% of Yingzhong Electric's shares through a cash transaction, thereby securing a controlling stake. Upon completion of the deal, Yingzhong Electric will become a wholly-controlled subsidiary of CEC Technology and will be consolidated into its financial statements.
This transaction is anticipated to qualify as both a major asset restructuring and a related-party transaction. Importantly, it does not involve the issuance of new shares and will not lead to any changes in CEC Technology's controlling shareholder or actual controller. At present, the transaction is still in its preliminary planning phase and remains subject to various uncertainties.