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Colin Electric has been locked in a battle for control over the past month.

Colin Electric (603050Fishtablegamblinggameonlinerealmoneynodeposit.SH) rose by the daily limit at the start of trading on May 14, rising 10% to 31.56 yuan per share. On the evening of May 13, Colin Electric announced that Hisense Network, a subsidiary of Hisense Group, could offer to acquire 20% of Colin Electric at a price of 33 yuan per share in order to gain its control.

Shi Wenbo, general manager of Hisense Network Energy Co., Ltd., said that after Hisense obtained the examination and approval document of the State Administration of Market Supervision and Administration on the concentration of operators on May 10, it immediately made a decision to offer to acquire Colin Electric shares on its own initiative, so as to put an end to the current unstable ownership structure of Colin Electric as soon as possible and promote the stable development of Colin Electric.

"Hisense Network can this offer is a partial offer, will not terminate Colin Electric's listing status." Mr Schwenberg said that under the current shareholding structure, Colin's public shareholders would hold no less than 25 per cent after the completion of Hisense's tender offer.

FishtablegamblinggameonlinerealmoneynodepositHe also said that once Hisense can control Colin Electric, Colin Electric's place of registration, production, tax payment, production site and management organization will not move out of Shijiazhuang.

According to the announcement, Hisense Network can offer to acquire Colin Electric, which is based on Hisense Group's development strategy of laying out new power grids and new energy sources.

Colin Electric, whose main business is electrical equipment and new energy, achieved an operating income of 3.905 billion yuan in 2023, an increase of 48.87% over the same period last year, and a net profit of 299 million yuan, an increase of 161.36% over the same period last year. In the first quarter of 2024, its revenue was 752 million yuan, an increase of 42.86% over the same period last year, and its net profit was 67.17 million yuan, up 65.05% over the same period last year.

Colin Electric has been locked in a battle for control over the past month.

On April 3, Colin Electric issued a correction notice saying that Hisense Network could hold 13.95% of Colin Electric's shares and 23.52% of the voting rights of Colin Electric. At that time, Zhang Chengsuo, the actual controller and chairman of Colin Electric, and his co-actors held 17.31% of the shares in Colin Electric, and Shijiazhuang State-owned Capital Investment and Operation Group, which had intersected and interacted with Zhang Chengsuo, held 6% in Colin Electric. The two together hold 23.31% of Colin Electric's shares. Zhang Chengsuo and his actors also said that they would continue to increase their stake in Colin Electric by no less than 0.5% in the future.