Southwest Securities: Changes in controlling shareholders are currently applying for administrative approval.

Southwest Securities announced that in 2025, Yufu Holdings intends to acquire 1.961 billion shares of the company held by Yufu Capital through the transfer of state-owned equity for free, accounting for 29.51% of the total share capital. After the acquisition is completed, Yufu Capital will no longer hold shares, and Yufu Holdings will become the controlling shareholder, with the ultimate controller still being the Chongqing State-owned Assets Supervision and Administration Commission. As of the date of the announcement, the acquisition is being applied for administrative approval in accordance with regulations and will need to await confirmation of compliance from the Shanghai Stock Exchange before handling the share transfer registration, which presents uncertainties.