SK Innovation Subsidiary SK On Completes Equity Swap in Chinese JV, Portfolio Rebalancing and Settlement
SK Innovation's key subsidiary SK On completed an equity swap transaction, selling its entire 49% stake in Huizhou EVE United Energy and acquiring a 30% stake in SK On Jiangsu from EVE Power Hongkong.
The swap was executed for portfolio rebalancing purposes, and the difference of 200 million CNY was settled by EVE ASIA to SK On.
The disposal amount of 2,308 million CNY approximately 475.9 billion KRW represents 3.01% of SK On's equity, and the closing date was advanced to June 22, 2026.
This transaction does not directly affect SK Innovation's share structure or capital, and is viewed as a strategic asset reallocation at the subsidiary level.
[AI Summary]SK On rebalanced its portfolio through an equity swap of Chinese battery joint ventures, but from SK Innovation shareholders' perspective, there is no direct capital change or dividend boost, making the impact neutral. However, it may support SK On's long-term operational efficiency.
KOSPI Filing Information
[Correction of Description] Decision on Disposal of Shares and Investment Securities in Other Corporations (Major Management Matters of Subsidiary)