Ningbo Shanshan's indirect controlling shareholder completes share transfer

Ningbo Shanshan Co., Ltd. reported the completion of the share transfer for 4,260,200 unrestricted circulating shares held by its indirect controlling shareholder, Shanshan Holdings Co., Ltd. These shares, representing 0.19% of the company’s total share capital, were successfully auctioned on September 21, 2025, via the Taobao judicial auction platform.

The non-transactional share transfer registration was finalized on October 13, 2025, as confirmed by Shanshan Holdings on October 14, 2025. Following this transfer, Shanshan Holdings now holds 32,792,203 shares, accounting for 1.46% of the company’s total share capital.

Combined with its concerted parties, Shanshan Holdings now holds a total of 588,588,926 shares, representing 26.17% of Ningbo Shanshan Co., Ltd.'s total share capital. The company anticipates that this judicial auction and subsequent share transfer will not materially affect its daily production and operational management.