Shanghai Tianchen (600620.SH) plans to select the opportunity to sell its 311 million shares of Greenland Holdings Corporation (600606.SH) that it holds.

Shanghai Tianchen (600620.SH) announced that due to the company's related bank financing plan not being carried out as scheduled, in order to effectively improve asset liquidity, support the development of the company's main business and capital investment in development projects, the company plans to sell its holdings of Greenland Holdings Corporation Group Limited (hereinafter referred to as "Greenland Holdings Corporation", security code: 600606) approximately 311 million shares, and to authorize the company's management to dispose of the above financial assets according to market conditions and the company's actual situation, including but not limited to centralized bidding and block trading. If Greenland Holdings Corporation undergoes bonus share issues, capital reserve fund capitalization, and other share changes, the quantity to be sold by the company will increase accordingly. The sale of Greenland Holdings Corporation shares this time is beneficial for revitalizing the company's existing assets, focusing on investment in the main business, improving the company's cash flow situation, and better meeting the company's future funding needs.