Shuanghuan Transmission opened sharply higher and quickly hit the daily limit up on the morning of September 4, then sealed the limit up again after the board was briefly opened. The previous evening, the company announced that its board of directors had agreed to terminate the spin-off of its subsidiary Huandong Technology for listing on the STAR Market and to withdraw the relevant listing application documents. The proposal still needs to be submitted to the second extraordinary shareholders' meeting of 2026 for review. The reason for the termination is that the market environment has changed significantly compared with the beginning of the plan. In order to coordinate the business development and capital operation planning of Huandong Technology, the decision to terminate was made after full communication and prudent assessment. The spin-off plan has been in preparation for nearly three years. Huandong Technology's IPO application was accepted in November 2024, and the latest prospectus was dated March 31, 2026. It had originally planned to raise about 1.408 billion yuan for projects such as an intelligent manufacturing base for precision reducers for robots. Shuanghuan Transmission said that the termination of the spin-off will not have a material impact on the company.
Zhejiang Shuanghuan Driveline Co LtdShuanghuan Transmission terminated the spin-off of subsidiary Huandong Technology's STAR Market listing, a capital-operation decision that sent its shares limit-up.
