Huafeng Chemicals: Transfer all equity of its wholly-owned subsidiary Futo Logistics to Huafeng Logistics for 348 million yuan.

Hua Feng Chemical announced that, in order to optimize asset allocation, focus on core business, and improve asset operation efficiency, Hua Feng Chemical will transfer 100% equity of its wholly-owned subsidiary Chongqing Futong Logistics Co., Ltd. to its affiliate Zhejiang Huafeng Logistics Co., Ltd. According to the evaluation report issued by Yin Xin Asset Evaluation Company, the income approach evaluation result was ultimately selected as the evaluation value for all equity of its shareholders, and the transfer price was determined to be 348 million yuan. After the completion of this equity transfer, the company will no longer hold equity in Futong Logistics.