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On July 10, Changling Hydraulic made an announcement stating that Hexin Polang had initiated a partial tender offer aimed at all shareholders excluding the acquirer and its affiliated parties. The offer entails acquiring 17.2904 million shares, equivalent to 12% of the company's total outstanding shares, at a price of RMB 36.24 per share. This tender offer is contingent upon Hexin Tingtao and Chenglian Shuangying reaching an agreement to purchase 43.2117 million shares held by Xia Jifa and Xia Zemin. Upon successful completion of these acquisitions, Hexin Polang and its affiliated parties will collectively hold up to 60.5022 million shares, representing 41.99% of Changling Hydraulic's total shares. The estimated total acquisition cost is anticipated to not exceed RMB 627 million, with Hexin Polang having already deposited RMB 126 million as an earnest money deposit.
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