Baotaillon: Intends to transfer 55% equity of its controlling subsidiary Jixi Investment Company.

Bao Tailong announced on the evening of June 23 that the company will transfer 55% of the equity of its controlling subsidiary Jixi Investment Company to Heilongjiang Huiyu Company. As an additional condition, Heilongjiang Huiyu Company should also acquire the debt rights that the company holds in Jixi Investment Company at the same time. The transaction price for the equity transfer is 154 million yuan, and the transaction price for the debt transfer is 146 million yuan, with a total of 300 million yuan for the two transactions mentioned above.