East Heavy Machinery: Selling 100% equity of Runxing Technology, delayed payment of remaining transfer amount.

East China Heavy Machinery announced that the company has sold 100% equity of Runxing Technology to Guangdong Yuanyuan, controlled by Zhou Wenyuan, a shareholder holding more than 5% of the original shares, in cash for a transaction price of 700 million yuan, to be paid in three installments. As of November 25, 2024, Guangdong Yuanyuan has already paid a total of 357 million yuan for the first two installments; as of December 16, 2024, Runxing Technology has repaid related loans and other debts of 310 million yuan. In 2024, Runxing Technology completed the registration of equity changes on the market. As of the disclosure date of the announcement, Guangdong Yuanyuan has made additional payments for the third installment, with a remaining amount of 81 million yuan yet to be paid. Zhou Wenyuan and Guangdong Yuanyuan claimed that due to funding allocation issues, the payment has been delayed, and they plan to complete the payment by 2026. The company will urge them to fulfill their obligations.