Ubtender Plans 1.665 Billion Yuan Acquisition of Controlling Stake in Fenglong Shares, Whose Aluminum Die-Casting Business Serves Automotive Parts
Zhejiang Fenglong Electric Co., Ltd. (hereinafter referred to as "Fenglong Shares") announced that on December 24, 2025, its controlling shareholder, Zhejiang Chengfeng Investment Co., Ltd. (hereinafter referred to as "Chengfeng Investment"), and its parties acting in concert—Dong Jiangang, Ningbo Fengchi Investment Co., Ltd., and Li Caixia—signed an agreement with Shenzhen Ubtender Technology Co., Ltd. (hereinafter referred to as "Ubtender").
According to the agreement, Chengfeng Investment will transfer approximately 65,529,900 unrestricted tradable shares, representing 29.99% of the company's total shares, to Ubtender via agreement, with a total transfer consideration of 1.161 billion yuan. After the completion of the share transfer registration, Ubtender and/or its designated entity will initiate a partial tender offer to the remaining shareholders of Fenglong Shares, intending to acquire approximately 28.45 million shares, accounting for 13.02% of the company's total shares.
