Jusung Electronics plans to acquire for 2.5 billion; four months ago, H-share listed with a fundraising of 3.4 billion HKD, experienced a first-day drop below the offering price.

China Economic Net Beijing, March 24 - Junsheng Electronics (600699.SH) announced last night regarding the acquisition of minority shareholder equity from its controlling subsidiary.

On March 23, 2026, the company signed the “Equity Transfer Agreement on Anhui Junsheng Automotive Safety Systems Co., Ltd.” (hereinafter referred to as the “Equity Transfer Agreement”) with the Advanced Manufacturing Fund, intending to acquire approximately 12.42% equity of the company’s controlling subsidiary Anhui Junsheng Safety for RMB 2.51566 billion. Before this transaction, the company and the Advanced Manufacturing Fund held approximately 57.12% and 12.42% equity in Anhui Junsheng Safety, respectively. After the completion of this transaction, the company’s shareholding in Anhui Junsheng Safety will increase to 69.54%, and the Advanced Manufacturing Fund will no longer hold any equity in Anhui Junsheng Safety.

This transaction does not constitute a related party transaction, nor does it constitute a significant asset restructuring.

Junsheng Electronics stated that following the completion of this transaction, it will further increase the company’s shareholding in the controlling subsidiary Anhui Junsheng Safety, enhancing its control and management efficiency over the automotive safety business. With the continued improvement in the profitability of the company’s automotive safety business, it will also help to enhance the overall profitability of the company, which will not have a significant adverse impact on the company’s financial and operational status, and there will be no situation that harms the interests of the company and all shareholders.

This transaction does not involve changes in the management of the target company, personnel placement, or land leasing; after the completion of this transaction, there will be no related party transactions, competition with peers, or non-operating fund occupation by the company’s controlling shareholder, actual controller, and their related persons.

Junsheng Electronics was listed on the Hong Kong Stock Exchange on November 6, 2025, opening below the issue price. By the end of the trading day, Junsheng Electronics was reported at HKD 20.24, a decline of 8%. The stock remains below the issue price.

The announcement of the final issue price and allocation results shows that the number of shares issued under Junsheng Electronics’ global offering is 155,100,000 H shares (depending on whether the over-allotment option is exercised), with 15,510,000 H shares issued in Hong Kong and 139,590,000 H shares issued internationally (depending on whether the over-allotment option is exercised).

The final issue price of Junsheng Electronics is HKD 22.00, with total proceeds amounting to HKD 3,412.2 million. After deducting estimated listing expenses of HKD 159.7 million based on the final issue price, the net proceeds amount to HKD 3,252.5 million.

The joint sponsors, overall coordinator, joint global coordinators, joint bookrunners, and joint lead managers for Junsheng Electronics are China International Capital Corporation Hong Kong Securities Limited and UBS Securities Hong Kong Limited. The overall coordinator, joint global coordinators, joint bookrunners, and joint lead managers are GF Securities (Hong Kong) Brokerage Limited. The joint global coordinators, joint bookrunners, and joint lead managers are Agricultural Bank of China International Financing Limited. The joint bookrunner and joint lead manager is Huaxing Securities (Hong Kong) Limited, and the sole financial advisor is CCB International.

(责任编辑：田云绯)