Zhejiang Chint Electrics (601877.SH) terminated the spin-off of its subsidiary Zhejiang Chint Energy to list on the Shanghai Stock Exchange main board.

Zhejiang Chint Electrics (601877.SH) announced on October 28, 2022 that the company held the fourth meeting of the ninth board of directors and the third meeting of the ninth board of supervisors. The meetings approved the "Proposal on Planning the Spin-off and Listing of a Subsidiary", agreeing to proceed with the spin-off and listing of its subsidiary, Zhejiang Chint Energy Technology Co., Ltd. (referred to as "Chint Energy"), and authorized the company and the management of Chint Energy to start the preparatory work for the spin-off and listing of Chint Energy. Since the company started planning for the spin-off and listing, it has actively promoted related matters, organized intermediary agencies to conduct due diligence and other related work, and strictly followed the requirements of relevant laws and regulations and normative documents to fulfill decision-making procedures and disclosure obligations. Considering the good development of Chint Energy's business and its rapid growth in performance, and in order to coordinate the company's business development, after comprehensive assessment of current market conditions and other factors in consultation with relevant parties, the company has decided to terminate the spin-off and listing of Chint Energy on the Shanghai Stock Exchange main board, and withdraw the related listing application documents.