Yilida announced that the change of its controlling shareholder and actual controller has passed the antitrust review by the State Administration for Market Regulation. The company received a decision not to conduct further review on the concentration of undertakings, clearing the acquisition of its shares by Tongxiang Runtong Holding. The concentration may proceed from the date of the decision. This equity change involves the controlling shareholder Zheshang Asset Management transferring its 37.11 percent stake in the company to Runtong Holding and Jiaxing Guotou respectively. Upon completion, the controlling shareholder will change from Zheshang Asset Management to Runtong Holding, and the actual controller will change from the Zhejiang Provincial State-owned Assets Supervision and Administration Commission to the Tongxiang Municipal Finance Bureau.
Zhejiang Yilida Ventilator Co LtdAntitrust review clearance removes regulatory hurdle for change of control, enabling the transaction to proceed.
Runtong Holding's acquisition of a controlling stake is cleared, allowing it to become the new controlling shareholder.