UL Solutions Inc. — Form 10-Q
Filed November 3, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 22/100
What the filing says
UL LLC and China Certification & Inspection (Group) Co., Ltd. executed an Amended and Restated Joint Venture Contract on October 30, 2026, restructuring their governance of UL-CCIC Company Limited (Suzhou). The contract extends the JV term by approximately 11 years to January 12, 2037. Key terms: registered capital USD 6.1M (UL LLC USD 4.27M, Party A USD 1.83M); UL LLC controls 4 of 7 Board seats and appoints General Manager; Party A controls 3 seats and appoints Deputy General Manager. The contract replaces the 2022 JV contract and prior ancillary agreements, including termination of historic IP and services agreements dating to 1997–2003. Party B (UL) gains buyout rights if Party A undergoes competitor ownership change or material breach.
Why this rating
Routine JV governance extension in China subsidiary; no material change in capital, ownership stakes, or economics disclosed. Small dollar amounts and geographically isolated joint venture are negligible relative to $4.5B company scale.
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