ESTUN (02715) has announced that its board resolved on September 23, 2026, to acquire approximately 19.4574% and 3.7834% equity stakes in Jiangsu Smart held by the National Manufacturing Fund and the Mixed-Ownership Reform Fund, respectively, along with an approximate 21.6193% stake held by the General Technology High-End Equipment Fund, all through a public tender process.

The minimum prices for the first and second batches of sale shares are set at RMB 210.6 million and RMB 40.25 million, respectively. The potential tender acquisition remains subject to formal listing and trading procedures on a public exchange, and as of the date of this announcement, no formal agreement has been signed regarding the proposed transaction.

Currently, Jiangsu Smart operates as a subsidiary of ESTUN, with the company holding approximately 50.1506% of its equity. If the proposed acquisition is completed, ESTUN's ownership in the target will increase to roughly 95.0107%, and Jiangsu Smart will continue to be a consolidated subsidiary, with its financial results integrated into the group's statements.

Why this move strengthens ESTUN's market position

Jiangsu Smart specializes in automation, digitalization, and intelligent transformation of production lines, delivering smart manufacturing solutions for sectors such as lithium batteries, energy storage, new energy vehicles, and sheet metal processing. The unit has established industry benchmarks for ESTUN's automation core components and robotics products across various niche markets, enabling large-scale application scenarios and having delivered over 100 intelligent production lines to date, continuously powering the advancement of the smart manufacturing industry.

The proposed acquisition is expected to deepen business synergy, management alignment, and centralized resource allocation between ESTUN and Jiangsu Smart, thereby enhancing group-level governance, strategic execution, and overall operational decision-making efficiency. It further solidifies the company's core competitiveness in the smart manufacturing arena, supports high-quality growth, and aligns with the company's goals of improving efficiency and achieving long-term, stable strategic development.