Hefei SASAC Approves Agreement Transfer of More Than 5% Shares in Guoxuan High-Tech

36Kr learned that Guoxuan High-Tech announced its major shareholder, Volkswagen (China) Investment Co., Ltd., plans to transfer 96.1804 million shares (representing 5.30% of total capital) to Hefei Construction Investment Co., Ltd. Recently, the Hefei SASAC approved this transaction at a price of 24.09 yuan per share, totaling 2.317 billion yuan. Upon completion, Volkswagen China's stake will drop to 18.98%, making Hefei Construction Investment a major shareholder holding more than 5%. The deal still requires compliance confirmation from the Shenzhen Stock Exchange and completion of share transfer registration procedures.