China Electric Equipment

China Electric Equipment Group's Xidian Smart Industry Base, a 10-billion-yuan smart industrial park, has welcomed its first tenant, Xi'an Xidian High-Voltage Switch Operating Mechanism Co., which moved in equipment. The base covers nearly 1,000 mu and is expected to generate 10 billion yuan in annual output and 5,000 jobs upon full completion.

Pinggao Electric announced that its controlling shareholder Pinggao Group plans to transfer its shares to China Electric Equipment free of charge. After completion, China Electric Equipment will become the direct controlling shareholder, while the actual controller remains the State-owned Assets Supervision and Administration Commission of the State Council.