Fujian Minfa Aluminium Inc. (002578.SZ) plans to transfer 9.5% equity of Nan'an Huitong Village Bank to Jinjiang Rural Commercial Bank for a price of 12.64 million yuan.

Fujian Minfa Aluminium Inc. (002578.SZ) announced that the company's board of directors has agreed to transfer 9.5% equity of Fujian Nan'an Suitong Village Bank Limited (referred to as "Nan'an Suitong Village Bank") held by the company to Fujian Jinjiang Rural Commercial Bank Limited (referred to as "Jinjiang Rural Commercial Bank"). The transfer price is based on the audited net assets per share of Nan'an Suitong Village Bank by the end of 2023, at a price of RMB 1.3312 per share, with a total transfer price of RMB 12.6464 million. This price includes the corresponding rights (including but not limited to undistributed dividends, bonus shares, etc.) of the transferred equity. This equity transaction still needs approval from the banking regulatory authorities. After this transaction is completed, the company will no longer hold equity in Suitong Village Bank. This transaction is mainly due to the management needs of Nan'an Suitong Village Bank, and also beneficial for the company to recover its working capital, optimize the company's asset structure, improve asset liquidity, enhance sustainable operating capacity and resilience to risks.