Nanjing Panda Electronics Co., Ltd. (00553): Ericsson (China) won the bid for 49% ENC equity

According to Zhitong Finance App, Nanjing Panda Electronics Co., Ltd. (00553) issued an announcement. On August 15, 2025, 49% of ENC shares (49% ENC rights) held by the Company and other ENC sellers (collectively referred to as “sellers”) were transferred in a public tender on the Shanghai Joint Stock Exchange. The initial bid price was approximately RMB 516.5 million. Due to unqualified bidders appearing during the initial public announcement period, the second public tender began on September 15, 2025, and the bid reserve price for 49% ENC equity was reduced to RMB 465 million.

On September 26, 2025, the Company received a notice from the Shanghai Joint Stock Exchange confirming Ericsson (China) Co., Ltd. (Ericsson (China)) as the successful bidder of the public tender. The final transaction price of 49% ENC's equity was confirmed at RMB 465 million, of which the company was entitled to acquire approximately RMB 256 million for the sale of 27% of ENC's shares.

On September 29, 2025, the seller and Ericsson (China) entered into a property rights transaction contract for the sale of 49% ENC rights. According to the terms of the seller's public tender issued by the Shanghai Joint Stock Exchange, Ericsson (China) has paid a security deposit of RMB 93 million to the Shanghai Joint Stock Exchange, accounting for 20% of the total cost. According to the title transaction contract, the security deposit will be used directly for the total cost of acquiring 49% of ENC's rights. The remaining cost of RMB 372 million will be transferred by Ericsson (China) to the designated account of the Shanghai Joint Property Exchange within five working days from the effective date of the property transaction contract.