Zhejiang Chint Electrics (601877.SH) plans to participate in the bidding for a 3.16% stake in its subsidiary Zhejiang Zhongtai Energy at a starting price of 1.116 billion yuan.

Zhejiang Chint Electrics (601877.SH) announced that the company plans to participate in the bidding for a 3.16% stake in the holding subsidiary of National Green Development Fund, Zhejiang 3NOD Digital Energy (Zhejiang) Co., Ltd. (referred to as "3NOD Energy"), through the Shanghai United Property Exchange. The bidding price is set at 1.116 billion RMB. After the successful bidding, the company's direct and indirect stake in 3NOD Energy will increase from 68.08% to 71.24%. This transaction will help deepen the layout of green energy industry, integrate high-quality resources, further optimize the equity structure of 3NOD Energy, enhance overall strategic synergy and control efficiency, promote the high-quality development of household photovoltaic business. It will not have a significant impact on the company's daily production and operation activities, and will not harm the interests of the company and shareholders.