ST Bao Shi: Controlling shareholder intends to change to State Grid Corporation.
ST Bao Shi Announcement: If the current equity transfer proceeds smoothly, the controlling shareholder of Bao Ta Industrial Co., Ltd. will change from Ningxia State-owned Capital Operation Group Co., Ltd. to Ningxia Power Investment Group Co., Ltd. Ning Guo Yun will be the indirect controlling shareholder. The current equity transfer will not change the actual controlling shareholder of the company, which remains the People's Government of Ningxia Hui Autonomous Region. The equity transfer will not have any adverse impact on the company's production and operation, and there is no situation that harms the interests of the company and minority shareholders.
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