Jinan Construction Group's 70.2% equity was transferred to Jinan Industrial Control without compensation.

On July 29, Jinan Construction Group announced that the Jinan SASAC will transfer for free the 70.2% equity of Jinan Construction Group it holds to Jinan Control. Previously, Jinan Control had announced the inclusion of Jinan Production and Development Group, Jinan Second Machine Tool, and Jigang Group, owning two listed companies, Maoshuo Power and Chango Aluminum. After this transfer, Jinan Control's total assets will exceed 130 billion yuan, with revenue approaching 100 billion yuan.