Qingdao Hisense Network Energy Co., Ltd. made an offer to acquire 20% stake in Shijiazhuang Kelin Electric Co., Ltd. (SHSE:603050) for CNY 1.5 billion on May 12, 2024. The shareholders' meeting of Qingdao Hisense Network Energy Co., Ltd. has reviewed and approved the tender offer on May 12, 2024, and the acquirer has completed the relevant internal review and decision-making procedures. The funds required for this tender offer will come from Qingdao Hisense Network Energy Co., Ltd. own funds.

CITIC Securities Co., Ltd. acted as financial advisor and Beijing King & Wood Mallesons acted as legal advisor to Qingdao Hisense Network Energy Co., Ltd. As of May 10, 2024, the State Administration for Market Regulation issued ?Decision on No Implementation of Further Review on Business Concentration Anti-monopoly? on the tender offer. The deal is expected to be completed on June 26, 2024.

As of June 8, 2024, the number of shares to be acquired under the tender offer is 54,502,594 shares, accounting for 20% Shijiazhuang Kelin Electric, at a price of CNY 27.17 per share.