ST Mingcheng: Intends to sell 45% of the equity of Time Media through public listing transfer.

ST Mingcheng Announcement: The company plans to sell 45% of the equity of its holding subsidiary, Time Media, through public listing transfer. After the transaction is completed, Time Media will no longer be included in the company's consolidated financial statements. This sale does not constitute a major asset restructuring, the transaction counterparty has not been determined yet, and the transaction price will be based on the final agreement signed. The company will fulfill its ongoing disclosure obligations based on the progress of the transaction.