Subsidiary of Fujian Dongbai Group (600693.SH) plans to transfer 100% equity of Dongbai Hongxing.

Fujian Dongbai Group (600693.SH) announced that, in order to continue promoting the light asset transformation of the company's commercial retail business, further optimize the allocation of company resources and overall asset structure, and reduce operational risks, the company's wholly-owned subsidiary, Fujian Oriental Department Store Management Co., Ltd., plans to transfer 100% equity of Fujian Dongbai Red Star Commercial Plaza Co., Ltd. (referred to as "Dongbai Red Star") at a tentative equity transfer price of 1.8278 million yuan. After the completion of this equity transfer, Dongbai Red Star will no longer be included in the company's consolidated financial statements. After the equity transfer, both parties will operate and manage the target company through a light asset cooperation model, where the company's related wholly-owned subsidiaries will provide operational management services to the target company after the transfer, and collect relevant management fees.