Shareholder change of Shanghai Sanmao Holdings approved by Chongqing State-owned Assets Supervision and Administration Commission, actual controller remains unchanged.

Shanghai Sanmao Enterprise Co., Ltd. announced that, in order to deepen the reform of state-owned enterprises, Chongqing Light Industry Holdings Co., Ltd. intends to transfer the 52,158,943 shares it holds in the company to its controlling shareholder, Chongqing Mechanical and Electrical Holdings Co., Ltd., for free. On July 21, 2025, the free transfer was approved by the Chongqing State-owned Assets Supervision and Administration Commission. After the completion of this transfer, the company's controlling shareholder will change from the Light Industry Group to the Mechanical and Electrical Group, with the actual controller remaining the Chongqing State-owned Assets Supervision and Administration Commission. Currently, the transfer still needs to be confirmed for compliance by the Shanghai Stock Exchange and undergo transfer registration by the Shanghai branch of China Securities Depository and Clearing Corporation Limited, which presents uncertainties. The company stated that this change will not affect its daily operations, and it will promptly disclose any further developments.