Jiangsu Guotai: Controlling shareholder transferred ownership rights for free, ultimate controller changed to Zhangjiagang state-owned assets management center.

Jiangsu Guotai announced that the company's controlling shareholder and actual controller are planning to transfer ownership of the company's shares for free. The People's Government of Zhangjiagang City, Jiangsu Province intends to transfer 100% of the equity of Jiangsu Guotai International Trading Co., Ltd. held by the government to Zhangjiagang State-owned Assets Management Center's wholly-owned state-owned company, Zhangjiagang Industrial Development Group Co., Ltd. After this transfer, the company's controlling shareholder remains unchanged, still being the international trade, and the actual controller of the company will change to Zhangjiagang State-owned Assets Management Center. This free transfer is subject to the signing of a formal agreement and completion of the delivery by both parties.