JIU RONG HOLD (02358) subsidiary plans to sell approximately 36.48 million yuan worth of shares, accounting for approximately 5.22% equity of Hangzhou Eastern Software Park.

JIU RONG HOLD (02358) announces that on February 28, 2025, the seller (an indirect wholly-owned subsidiary of the company, Jiu Rong New Energy Technology Co., Ltd.) intends to sell approximately 5.22% of the issued share capital of the target company (Hangzhou Eastern Software Park Co., Ltd.) to the buyer (Hangzhou Yihewanglu Co., Ltd.) for a consideration of approximately RMB 36.4878 million. The target company is incorporated in China and its shares are listed on the National Equities Exchange and Quotations (stock code: 832968). The target company is mainly engaged in the construction, management, and operation of technology parks. The group is primarily involved in digital video business, new energy vehicle business, cloud ecology big data business, property investment, property development, and general trading. Given that the group has been incurring losses since 2022, the board of directors has been actively reviewing and planning to make adjustments to the existing businesses of the group in order to streamline operations and improve the group's financial position in the future. The sale transaction allows the company to allocate more resources and focus on other core business segments for future development.