Jiangxi Guotai Group's subsidiary plans to publicly list and transfer 45% equity of Hongtai Logistics.

Jiangxi Guotai Group (603977.SH) announced that its wholly-owned subsidiary, Jiangxi Henghe Investment Development Co., Ltd., plans to publicly list and transfer 45% equity of Jiangxi Hongtai Logistics Co., Ltd. (referred to as "Hongtai Logistics") through Jiangxi Property Exchange. The floor price for this public listing and transfer is 173 million yuan. After the equity transfer is completed, the company will no longer hold equity in Hongtai Logistics. Currently, the logistics transportation business engaged by Hongtai Logistics has relatively weak business correlation with the industrial development pattern of integrated civil blasting, military new materials, rail transit automation and informatization established by the company. The public listing and transfer of Hongtai Logistics' equity is conducive to further focusing on the main responsibilities and core business, optimizing the company's asset structure, enhancing the efficiency of state-owned capital allocation, and meeting the overall needs of the company's business development. It is expected that the overall profitability and operational results of the company will further improve.