Jiangsu Jinling Sports Equipment (300651.SZ) plans to acquire a 35% stake in Jinling Gongchuang, making it a wholly-owned subsidiary.

Jiangsu Jinling Sports Equipment (300651.SZ) announced that the company plans to acquire 35% equity of Suzhou Jinling Gongchuang Sports Equipment Co., Ltd. ("Jinling Gongchuang") held by Wang Weizhong at a transfer price of 4 million RMB. This transaction is in line with the company's overall business plan, can further optimize the company's resource allocation, and is beneficial to safeguarding the overall and long-term interests of the company. This transaction will not have any adverse impact on the company's normal operations and financial condition, will not affect the company's business development and sustainable profitability, and will not harm the interests of the company and shareholders. After the completion of this equity transfer, the company will hold 100% equity of Jinling Gongchuang, which will be included in the company's consolidated financial statements.