Shengtong Energy surges at the close; Qiteng Robot's acquisition of equity approved by the State Administration for Market Regulation

Recently, the capital market received some noteworthy news: the official website of the State Administration for Market Regulation published a list of unconstrained approvals for business concentration cases from February 9 to February 22, 2026. Among them was the acquisition of Shengtong Energy shares by Qiteng Robotics Co., Ltd., which was finalized on February 11, 2026. This news has sparked numerous speculations about the future direction of Shengtong Energy.

Looking back at the development of the event, on December 11, 2025, Shengtong Energy announced that Qiteng Robotics planned to invest over 1.6 billion yuan through “agreement transfer + partial tender offer” to hold up to 44.99% of the company’s shares, thereby becoming the controlling shareholder. After this announcement, the market reacted quickly. On February 27, near the market close, Shengtong Energy’s stock price suddenly surged significantly, closing at 55.17 yuan per share, up 5.47%, with the company’s total market value rising to 15.57 billion yuan.

However, the process of this equity acquisition was not smooth sailing. On February 10, 2026, Shengtong Energy issued another announcement stating that the transfer of shares had not yet completed the registration of ownership. Currently, Qiteng Robotics and Shengtong Energy are actively advancing related work, including compliance confirmation from the Shenzhen Stock Exchange and the registration of share transfer procedures with China Securities Depository and Clearing Corporation Limited Shenzhen Branch.

Qiteng Robotics was established in 2010. It is an enterprise integrating the design, research and development, production, sales, and service of special robots. Its products are diverse, including explosion-proof chemical wheel-type inspection robots, explosion-proof four-legged robots, and explosion-proof track-mounted inspection robots, occupying a leading position in emergency safety, with strong technical strength and market competitiveness.

Shengtong Energy was listed on the Shenzhen Stock Exchange in 2022. Its main business involves the procurement, transportation, and sales of LNG (liquefied natural gas), and it also provides crude oil transportation services. However, the company’s performance has not been satisfactory. On January 31, 2026, Shengtong Energy released a performance forecast indicating that the net profit attributable to the parent company for 2025 is expected to be between 15 million and 19.5 million yuan, while the net profit after deducting non-recurring gains and losses is expected to be between -21.5 million and -15.5 million yuan.

Regarding the reasons for the decline in performance, Shengtong Energy stated in its announcement that in 2025, the overall supply and demand fundamentals of the international natural gas market were generally loose, with natural gas prices fluctuating at low levels, and demand recovery falling short of expectations. Meanwhile, domestic gas production increased significantly, and the domestic market continued to exhibit a “strong supply, weak demand” pattern. Market competition intensified, squeezing prices and profit margins. The company’s main business was also impacted by the implementation of the five-year “Import LNG Window One-Stop” long-term agreement, which caused significant pressure on its performance.