Midea Group: Intends to spin off and list AnderZEL on the main board of the Hong Kong Stock Exchange.

Midea Group announced that it plans to spin off its subsidiary, Ander Zhilian Supply Chain Technology Co., Ltd., and list it on the main board of the Hong Kong Stock Exchange. After the completion of this spin-off, there will be no significant changes to Midea Group's equity structure, and it will continue to maintain control over Ander Zhilian. This spin-off is beneficial for the company to further streamline its business management structure, unleash the valuation potential of the smart logistics sector; it is also beneficial for Ander Zhilian to expand financing channels, improve incentive mechanisms, and enhance its competitive advantage.