Shanshan Holdings shares subject to judicial disposal

Ningbo Shanshan has announced developments regarding the judicial disposal of shares held by its indirect controlling shareholder, Shanshan Holdings Group. The shares, consisting of 13,000,000 shares of Ningbo Shanshan, representing 25.97% of Shanshan Holdings Group's stake and 0.58% of Ningbo Shanshan’s total share capital, have been fully transacted through competitive bidding. The winning bidder, identified as Wei Wei, acquired the shares at a price of CNY8.42 per share, totaling CNY109,460,000.