Chongqing Department Store announces equity transfer progress

Chongqing Department Store Co., Ltd. announced on October 27, 2025, that its shareholder, Chongqing Yufu Capital Operation Group Co., Ltd., plans to transfer 111,540,705 shares of Chongqing Department Store to Chongqing Yuxin Chuang Commercial Management Co., Ltd. This move aims to clarify the functional positioning of state-owned enterprises and improve primary responsibilities and business management.

On November 20, 2025, Yufu Capital and Yuxin Chuang Commercial Management formally signed a "Gratuitous Transfer Agreement" for these shares. The completion of this equity change is pending compliance confirmation from the Shanghai Stock Exchange and processing of the share transfer registration.

Following this equity change, Chongqing Department Store's controlling shareholder and actual controller will remain unchanged. The company will continue to operate without a controlling shareholder or actual controller, and commits to monitoring the progress of this shareholding alteration and fulfilling its information disclosure obligations.