Chongqing Department Store shares affected by internal restructuring

Chongqing Department Store has announced an adjustment to its shareholder equity, which is part of an internal asset restructuring among related parties. Yufu Capital will transfer its 111,540,705 shares in Chongqing Department Store to Yuxin Commercial Management Co., Ltd., a wholly-owned subsidiary of Chongqing Yufu Holdings Group Co., Ltd. (Yufu Holdings).

After the adjustment, Yufu Holdings and Yuxin Commercial Management will act as a concerted party, holding a combined 116,062,448 shares, representing 26.35% of the company's total share capital. The company clarified that this restructuring will not trigger a tender offer and will not change the company's status of having no controlling shareholder or actual controller. The company's main business, including department stores, supermarkets, appliances, and automotive trade, remains unaffected.

This transaction stems from an earlier plan where Yufu Capital intended to transfer 25.32% of its shares to Yufu Holdings, alongside the transfer of Chongqing Yufu Huamao State-owned Assets Management Co., Ltd. to Yufu Holdings, which holds an additional 1.03% of Chongqing Department Store. However, the plan was adjusted to transfer the shares to Yuxin Commercial Management. The company noted that the transaction agreements have not yet been signed, and final completion and delivery remain uncertain.