According to the Zhitong Finance App, China Energy Construction (601868.SH) announced that the company issued shares through Hunan Nanling Civilian Explosive Equipment Co., Ltd. (“Nanling Minbang”) and purchased 68.36% of the shares of China Gezhouba Group E-Puli Co., Ltd. (“Epli”), a subsidiary of the company, held by China Gezhouba Group Co., Ltd. (“Gezhouba”), thereby achieving a spin-off and listing of Epli (“this spin-off”). The spin-off was completed on January 30, 2023 after approval was obtained from the China Securities Regulatory Commission.

Currently, Nanling Minbang has become the controlling shareholder of Epli; Gezhouba holds 47.90% of Nanling Minbang's shares and is the controlling shareholder of Nanling Minbang; the company is the indirect controlling shareholder of Nanling Minbang.