Financial Technology | CITIC Securities assists Guangzhou Industrial Control Group in successfully acquiring the controlling stake of Xusheng Group

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(Source: China Securities Journal)

On April 1, 2026, Guangzhou Industrial Investment Holding Group Co., Ltd. (hereinafter referred to as Guangzhou Gongkong Group) and Guangzhou Gongkong Auto Parts Group Co., Ltd. (hereinafter referred to as Gongkong Auto Parts Group) successfully completed the transfer of control over Ningbo Xusheng Group Co., Ltd. (hereinafter referred to as Xusheng Group, 603305.SH), with a transaction scale of 4.3B yuan. CITIC Securities served as the financial advisor for this transaction, supporting state-owned enterprise reform and strengthening supply chains through professional capital market services, deeply serving new quality productivity.

The largest control rights acquisition of Guangzhou state-owned listed companies in nearly a decade

Since Xusheng Group disclosed its control change plan in December 2025, and until the successful transfer of equity on April 1, 2026, CITIC Securities, as financial advisor, assisted Guangzhou Gongkong Group throughout the process. The deal involved a transaction value of 4.3B yuan, achieved through indirect acquisition and agreement transfer methods, successfully acquiring control of Xusheng Group. After this equity change, Guangzhou Gongkong Group and its concerted parties hold a total of 27.0455% of shares, becoming the controlling shareholder of the listed company, with the actual controller changing to the Guangzhou Municipal People’s Government.

This control rights acquisition not only was implemented steadily and efficiently but also set a new market benchmark with its large transaction volume, becoming the largest control rights acquisition of Guangzhou state-owned listed companies in nearly ten years.

CITIC Securities’s long-term service to Guangzhou Gongkong Group

Continuously supporting the development of new quality productivity

As a long-term strategic partner of Guangzhou Gongkong Group, CITIC Securities’s successful assistance in acquiring control of Xusheng Group marks the fourth listed company control obtained by CITIC Securities for Guangzhou Gongkong Group, following Runbang Shares, Dinghan Technology, and Shanhai Intelligent. In this transaction, CITIC Securities leveraged rich experience in mergers and acquisitions and restructuring, along with professional and efficient execution capabilities, precisely controlling key nodes, efficiently coordinating project progress, and fully ensuring smooth completion of the transaction, demonstrating its professional strength in industrial M&A and state-owned enterprise capital operations.

Xusheng Group focuses on core lightweight components for new energy vehicles, combining new quality productivity with embodied intelligence industry attributes, and is布局ing key structural parts for humanoid robots with outstanding technical strength. The acquisition of Xusheng Group by Guangzhou Gongkong Group is a major strategic move in Guangzhou’s state-owned capital layout of high-end equipment and new energy industries. This transaction helps Guangzhou Gongkong Group fill gaps in automotive lightweighting core links, improve the new energy industry chain layout, and strengthen industrial synergy and cluster effects. After the transaction, Xusheng Group’s robotics, energy storage, and other businesses will form a strong supplement to Guangzhou Gongkong Group’s industrial chain, aiding the upgrade of high-end equipment and intelligent industry ecosystems in the Guangdong-Hong Kong-Macao Greater Bay Area.

Guangzhou Gongkong Group

Guangzhou Gongkong Group has ranked among the Fortune Global 500 for many years, reaching 406th place in 2025. As a state-owned capital investment company in the industrial field and a leading enterprise in advanced manufacturing, it actively implements the strategic deployment of the Guangzhou Municipal Party Committee and Government, aiming to build a world-class, innovation-driven industrial investment group. Its goal is to optimize Guangzhou’s industrial ecosystem, focusing on advanced manufacturing, industrial finance, and industrial park sectors, attracting high-end global industrial resources to Guangzhou, accelerating industrial transformation and upgrading, and transforming Guangzhou manufacturing into high-quality, intelligent, and creative manufacturing.

Xusheng Group

(Stock code: 603305.SH)

Founded in 2003, Xusheng Group was listed on the main board of the Shanghai Stock Exchange in 2017. It is one of China’s leading enterprises in the field of precision aluminum alloy components for automobiles. Headquartered in Ningbo, China, the group has four main divisions: die casting, forging, extrusion, and integration, with R&D centers and manufacturing bases in China, the United States, Mexico, and Thailand. Xusheng Group’s products mainly include electric drive systems, electronic control systems, battery systems, chassis and suspension systems, high-performance body systems, energy storage systems, and robot systems for new energy vehicles. With advanced manufacturing technology, excellent quality management, and strong global supply capabilities, it has become a trusted global partner for many well-known clients worldwide.

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