Zoomlion Heavy Industry has agreed to sell control of Shenzhen-listed Roadrover Technology to a partnership led by Zhang Wutang at RMB25 a share, in a two-step deal worth about RMB1.32bn for up to 43.99% of the car electronics maker.
Why Yuanzhuo Tianshi (Longyou) New Energy Partnership (Zhang Wutang) is buying Shenzhen Roadrover Technology (control, from Zoomlion)
Roadrover develops and makes in-vehicle information and intelligent cockpit products. It lost RMB93.7m in 2025 on revenue of RMB373.6m. Zoomlion said it would use the proceeds for its main business and working capital, in line with its diversification, globalisation and digitalisation strategy.
Deal terms and financing
Yuanzhuo Tianshi (Longyou) New Energy Partnership will buy 29.99% from Zoomlion for RMB899.7m. Within 30 days of signing, an offeror nominated by the buyer must publish a partial cash offer for at least 14% of Roadrover at RMB25 a share; Zoomlion will tender 14%, worth RMB420m. Zoomlion also has a put right to sell any remaining shares at RMB25 within 36 months of the offer, and gave performance undertakings on Roadrover's existing automotive electronics business for 2026 to 2028.
Regulatory approvals and timing
The block sale requires a compliance confirmation from the Shenzhen Stock Exchange and share transfer registration. The partial offer must follow the offer-document procedures under Chinese takeover rules.
Market context
The buyer was set up on 11 October for the deal. Zhang Wutang is its executive partner and works at Shenzhen Dangzhuo Battery Technology, according to Zoomlion's filing. Roadrover's shares were suspended on 30 September and resumed trading on 14 October.
