Gaozheng Minbao: Tibet Construction and Building Materials Group plans to transfer 34% of its equity without compensation.

Gaozheng Minbao announced that Tibet Construction and Building Materials Group Co., Ltd. intends to transfer its 94,195,640 shares in the company to Tibet Geological Mineral Group Co., Ltd. without charge. Before this change in equity, Tibet Construction and Building Materials Group held a 57.38% stake, making it the controlling shareholder; after the transfer, its stake will decrease to 23.38%, and the controlling shareholder will change to Tibet Geological Mineral Group, while the actual controller will remain the State-owned Assets Supervision and Administration Commission of Tibet Autonomous Region. This change in equity still requires approval from the relevant departments and the completion of share transfer registration procedures.