Shanxi Fen Wine's ownership structure streamlined by government equity transfer

Shanxi Xinghuacun Fen Wine Factory Co. announced a reduction in the ownership tiers between its controlling shareholder and actual controller. This change stems from the Shanxi Provincial People's Government's decision to transfer 90% of Shanxi Fen Wine Group Co.'s equity, previously held by Shanxi State-owned Capital Operation Co., directly to the Shanxi Provincial State-owned Assets Supervision and Administration Commission. This means the Shanxi Provincial State-owned Assets Supervision and Administration Commission will directly hold the majority stake in Fen Wine Group.

Despite this restructuring, the company's direct controlling shareholder, Fen Wine Group, and the actual controller, Shanxi Provincial State-owned Assets Supervision and Administration Commission, will remain unchanged. This reorganization is not expected to alter their respective shareholding percentages or impact the stability of the company's control. The transaction does not involve any tender offers.

The company confirmed that this equity change will not adversely affect its normal production, operations, or sustained development, nor will it harm the interests of the company or its minority shareholders. The necessary industrial and commercial registration procedures for this equity change are still pending. Investors are advised to exercise caution and be aware of potential investment risks.