Zoomlion: Plans to Sell Controlling Stake in Luchang Technology for Approximately 900 Million Yuan

36Kr reports that Zoomlion announced its intention to transfer its 29.99% stake in Luchang Technology to Yanzhuo Angel at 25 yuan per share, with a total transaction value of approximately 899.7 million yuan. The acquirer will designate an offeror to launch a partial tender offer, and Zoomlion intends to declare acceptance for its 14% holding. Upon completion of the transaction, Zoomlion's stake will drop to 9.83%, ending its status as Luchang Technology's controlling shareholder. The deal is expected to impact the company's profit by approximately 288 million yuan.