Shanghai Jin Jiang International Hotels (600754.SH)' controlling shareholder has pledged not to reduce the company's shares within the next 12 months.

Shanghai Jin Jiang International Hotels (600754.SH) announced that it has recently received a commitment letter from its controlling shareholder, Shanghai Jin Jiang Capital Co., Ltd. (hereinafter referred to as "Jin Jiang Capital"), regarding the voluntary non-reduction of its shares in Shanghai Jin Jiang International Hotels. Based on confidence in the future development prospects of Shanghai Jin Jiang International Hotels and a reasonable assessment of the company's value, in order to promote the company's continuous, stable, and healthy development, support the realization of its future strategic plans, effectively safeguard the interests of investors, and promote the fair return of the company's intrinsic value, Jin Jiang Capital promises to all investors: From March 5, 2024 to March 4, 2025, over a 12-month period, Jin Jiang Capital will not reduce its directly held shares in the company in any way. Any additional shares acquired during the commitment period through bonus issues, capitalization of reserves, rights issues, etc., will also be subject to the non-reduction commitment. If Jin Jiang Capital violates the commitment by reducing its shares in Shanghai Jin Jiang International Hotels during the commitment period, any profits obtained from such reduction will be returned to Shanghai Jin Jiang International Hotels.