On September 9, Guangdong Hengjian Investment Holding Co., Ltd. (hereinafter referred to as “Hengjian Holding”), Dongguan Financial Holding Group Co., Ltd. (hereinafter referred to as “Dongguan Financial Holding”), and Yisite Group Co., Ltd. (hereinafter referred to as “Yisite”) held a grand signing ceremony for their cooperation at Dongguan Dongcheng International Hotel.

The signing ceremony, themed “Empowered by State Capital, Advancing Together, Achieving New Glory,” marked the successful completion of Hengjian Holdings' investment in Yisite with the coordinated participation of provincial, municipal, and district-level state-owned capital. This milestone signifies Yisite's transition into a phase of co-governance by state-owned and private capital. Concurrently, a series of state-owned capital empowerment initiatives have been formally launched. These will accelerate Yisite's development into a leading listed company in the industry and a globally renowned high-end equipment manufacturing enterprise, while supporting the high-quality development of the “new infrastructure” sector within the Guangdong-Hong Kong-Macao Greater Bay Area. Through complementary strengths, mutual empowerment, and collaborative win-win efforts, all partners will embark on a new journey together, building new glory.

Academician Sun Yu, member of the Chinese Academy of Engineering, military communications technology expert, and honorary president of Yisite University; Liu Kaiwen, inspector of the Guangdong Provincial Local Financial Supervision and Administration Bureau; Chen Zhongqiu, member of the Dongguan Municipal Government Party Leadership Group; Jiang Xiaoying, deputy secretary of the Dongguan Municipal People's Political Consultative Conference Party Leadership Group and vice chairperson; Ye Shujing, Deputy Director of Dongguan Municipal Financial Work Bureau; Lu Gang, Member of the Party Working Committee and Chief Economist of the Administrative Committee of Dongguan Songshan Lake High-Tech Industrial Development Zone; Wen Wenxing, Party Secretary and Chairman of Hengjian Holding Company; Li Mingliang, Deputy Party Secretary and General Manager of Hengjian Holding Company; Liao Yulin, Party Secretary and Chairman of Dongguan Financial Holdings Group; Jiang Fan, Deputy General Manager; Professor He Simou, Founder of Yisite; He Jia, Chairman; Chen Shuo, President; and other distinguished guests. Representatives from leading financial institutions including Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, China Agricultural Development Bank, China Exim Bank, China Resources Bank, China Everbright Bank, China CITIC Bank, Shanghai Pudong Development Bank, Industrial Bank, Guangzhou Rural Commercial Bank, Dongguan Bank, Dongguan Rural Commercial Bank, CITIC Securities, Changjiang Securities, Huarong Securities, and other financial institutions, as well as leaders from Baosteel Zhanjiang Steel, China General Nuclear Power Group, Guangdong Electric Power Development Company, China Resources Group, ZTE Corporation, Mingyang Smart Energy, and Jiadu Technology. Together, they attended the signing ceremony and witnessed this milestone moment.

At the signing ceremony for the cooperation agreement, Professor He Simou, founder of Yisite, expressed his gratitude to the leaders and guests for attending the event.

In his address, Professor He Simou reviewed Easytel's development journey over the past three decades, sharing the company's substantial achievements in scientific research and the key projects its core technologies and products have contributed to. Drawing on Easytel's robust technological accumulation and industrial foundation, coupled with the substantial strength of state-owned shareholders such as Hengjian Holdings and Dongguan Financial Holdings, Professor He expressed full confidence in the company's future prospects under state-owned capital empowerment. “The investment and empowerment by Hengjian Holdings, leading a three-tier provincial-municipal-district state-owned capital platform, marks a new starting point for Yisite in pursuing its grand vision of becoming a ‘century-old enterprise and century-old brand,’ and represents a significant milestone in its strides toward building a world-class enterprise.”

Liao Yulin, Party Secretary and Chairman of Dongguan Financial Holdings Group, took the stage to deliver remarks, extending warm congratulations on the successful signing ceremony. He stated that this tripartite collaboration between Dongguan Financial Holdings, Hengjian Holdings, and Yisite represents not only a powerful alliance leveraging the strengths of provincial and municipal state-owned enterprises but also a successful model for integrating state capital resources, empowering enterprises, and supporting leading companies in achieving greater scale and strength. “We will focus on building new platforms and mechanisms for cooperation, striving to elevate the level and quality of strategic synergy. Seizing this opportunity, we will plan to expand collaboration in upstream and downstream industries as well as other fields, effectively driving mutual benefits for all three parties and a win-win outcome for multiple stakeholders.”

Wen Wenxing, Party Secretary and Chairman of Guangdong Hengjian Holding Company, extended congratulations on the successful completion of the state-owned capital investment. He expressed great anticipation for Yisite's journey toward becoming a world-class enterprise under the joint governance of state-owned and private capital, and provided a detailed overview of the next phase of plans for state-owned capital to empower Yisite.

Chairman Wen Wenxing stated that Hengjian Holdings will fully leverage its strengths as a provincial state-owned capital operation platform to empower Yisite through financial, operational, and strategic support, transforming Yisite into a globally renowned premium power equipment brand. He emphasized that based on industrial synergy and business complementarity, both parties will pursue deeper and more diversified collaborations across broader domains to advance strategic alignment. "Hengjian Holdings will fully support Yisite in accessing Hengjian's resources, facilitating deeper collaborations with our portfolio companies including China Southern Power Grid, China Southern Airlines, CGN, CGN Power, and AVIC General Aviation. This will empower Yisite to expand its market presence and brand influence in smart cities, data centers, 5G, energy storage, charging stations/ stations, and rail transit sectors. This will expand market share, enhance brand influence, accelerate high-quality business growth, and contribute to the high-quality development of the Greater Bay Area's new infrastructure industry."

Academician Sun Yu, a leading authority in the communications industry, attended the signing ceremony and expressed his best wishes for the cooperative prospects. As a witness to Easytel's growth and expansion, he expressed heartfelt satisfaction at seeing provincial, municipal, and district-level state-owned asset platforms unanimously supporting Easytel, investing in Easytel, and empowering Easytel. He felt the strong sense of responsibility demonstrated by Guangdong's governments at all levels and state-owned assets in vigorously promoting the development of the real economy. He encouraged all partners to collectively target the forefront of global power electronics technology, pool their strengths, overcome challenges, and create greater value for national development and social progress. “Hengjian Holdings, Dongguan Financial Holdings, and Yisite will pursue innovative development across broader domains, seize opportunities presented by the ‘new infrastructure’ initiative, empower each other, and achieve mutual success.”

Chen Zhongqiu, member of the Party Leadership Group of Dongguan Municipal Government, attended the event on behalf of Mayor Xiao Yafei and extended congratulations on the collaboration between Hengjian Holdings, Dongguan Financial Holdings, and Yisite. He noted that Hengjian Holdings is Guangdong Province's sole provincial-level state-owned capital operation platform, possessing extensive experience in capital markets and deep industrial布局. Dongguan Financial Holdings, a wholly state-owned limited liability company under the Dongguan SASAC, adheres to a “finance + industry” development strategy dedicated to serving the real economy and industrial transformation and upgrading. Yisite stands as an exemplary representative of Dongguan's high-tech private enterprises and a key player in the Greater Bay Area's new infrastructure sectors, including 5G, data centers, and charging piles. He expressed confidence that the sincere collaboration among these three formidable entities will establish a model for the integrated development of finance and the real economy, creating greater value for shareholders and contributing significantly to local economic growth. The Dongguan Municipal Party Committee and Municipal Government will continue striving to foster a business environment conducive to enterprise development, providing robust support for investors and entrepreneurs. “We are confident that with state capital empowerment, Yisite will further enhance its core competitiveness in the high-end equipment manufacturing sector, fully leverage its technological and industrial strengths, serve as a dedicated implementer of national strategies, and accelerate the development of the ‘new infrastructure’ industry while advancing the continuous improvement of digital infrastructure.”

Liu Kaiwen, Inspector of the Guangdong Provincial Local Financial Supervision and Administration Bureau, extended congratulations on the signing ceremony and expressed high hopes for future collaboration among all parties. He emphasized that the joint investment in Yisite by provincial, municipal, and district-level state-owned capital represents a significant step. This initiative serves as a valuable experiment in deepening reforms of Guangdong's state-owned capital, continuously optimizing the layout of state-owned capital and corporate asset allocation, and enhancing the efficiency of state-owned capital. It aims to establish a model for mixed-ownership reform in Guangdong. “As the provincial enterprise group with the largest net assets and strongest capital strength in Guangdong, Hengjian Holdings has made strategic investments in industries vital to the province's future development—including strategic, pillar, and emerging sectors—leveraging its distinct advantages. This state-owned capital platform will empower Yisite to the fullest extent, supporting its core business to grow stronger and larger. We hope Yisite, standing at this new developmental juncture, will continue to prioritize technological innovation, advance hand-in-hand with state-owned capital, and achieve new heights of excellence!”

Great achievements stem from lofty aspirations; extensive endeavors arise from diligent work. Since its founding in 1989, Yisite has steadfastly upheld its founding mission of “serving the nation through industry and strengthening the country through enterprise” for 31 years. Driven by innovation, it has evolved from an obscure private enterprise to a joint venture controlled by Fortune Global 500 company Schneider Electric, then to a publicly listed industry leader with a market value exceeding 20 billion yuan, and now stands as a state-backed high-end equipment manufacturer. Leveraging core power electronics technologies, it has established three major business segments: Smart Cities & Big Data, Smart Energy, and Smart Power Supply. These cover key “new infrastructure” sectors including 5G power supply, data centers, rail transit, new energy vehicle charging stations, smart manufacturing, and artificial intelligence. Over the past three decades, Yisite has navigated diverse challenges with composure, achieving transformative growth through unwavering resilience.

We extend our gratitude to the Guangdong Provincial Party Committee and Provincial Government, the Dongguan Municipal Party Committee and Municipal Government, and the Songshan Lake High-Tech Zone Government for their long-standing care and support of Yisite's development. Yisite will seize this collaboration as an opportunity to continue deepening its roots in the high-end equipment manufacturing sector and cultivating the “new infrastructure” industry under the leadership and empowerment of Hengjian Holdings, Dongguan Financial Holdings, and other state-owned shareholders. We will deepen our commitment to the high-end equipment manufacturing sector and the “new infrastructure” industry, comprehensively enhance our core competitiveness, and strive tirelessly to become a globally renowned high-end equipment manufacturer. We will make greater contributions to advancing Guangdong's high-quality economic development and to propelling China's transformation from a manufacturing powerhouse to a smart manufacturing leader!

Guangdong Hengjian Holding Company

Guangdong Hengjian Investment Holding Co., Ltd., established in 2007, is Guangdong Province's sole provincial-level state-owned capital operation company and industry-finance integration platform. It holds equity stakes in central state-owned enterprises such as China Southern Power Grid, China Southern Airlines Group, China General Nuclear Power Group, CGN Power, Shaoguan Iron & Steel, Zhanjiang Iron & Steel, and AVIC Tong on behalf of the Guangdong Provincial Government. The company owns over 20 wholly-owned and controlled enterprises. As of June 30, 2020, the company reported total assets of RMB 298.8 billion and net assets of RMB 175.8 billion, making it the provincial enterprise group with the largest net asset scale and strongest capital strength in Guangdong Province.

Dongguan Financial Holdings Group

Dongguan Financial Holdings Group Co., Ltd. was established in 2016 with a registered capital of approximately RMB 3.228 billion. As a wholly state-owned limited liability company under the supervision of the Dongguan Municipal State-owned Assets Supervision and Administration Commission, it serves as the municipal government's platform for consolidating municipal financial equity holdings. The company aims to develop into a financial holding group with comprehensive competitive advantages, capable of providing integrated services and possessing diversified operational capabilities. Guided by the overarching development strategy of “Finance + Industry,” Dongguan Financial Holdings focuses on promoting the integration and coordinated development of local financial resources, enhancing the local financial industry chain, and effectively serving the real economy and industrial transformation and upgrading

EAST Group

       EAST Group Co., Ltd. (Stock Code: 300376), founded in 1989, specializes in the R&D and application of power electronics technology. Its core business spans three strategic domains: Smart Power (5G power supply, rail transit power supply, intelligent power supply and distribution, special-purpose power supplies), Smart Energy (photovoltaic power generation, energy storage, charging piles, microgrids), and Smart Cities (cloud computing/edge computing data centers, IT infrastructure). Aligned with China's “New Infrastructure” strategic initiatives, the company delivers premium integrated solutions for smart cities & big data and smart energy to global users. and smart cities (cloud/edge computing data centers, IT infrastructure). Aligned with China's “New Infrastructure” strategy, the company delivers comprehensive smart city & big data and smart energy solutions to global users.