ST Zhang shares: The opening reference price will be adjusted after the capital reserve is converted into share capital.

ST Zhang announced that in this restructuring, every 10 shares will be converted into 10 shares, totaling 405 million shares to be issued. The total share capital after the conversion will increase to 810 million shares. 366 million shares will be used to introduce restructuring investors, who will provide 1.586 billion RMB; 38.8177 million shares will be used for debt repayment. The equity registration date is December 26th, and on that day, the company's stock was suspended with a closing price of 7.90 RMB per share, higher than the average conversion price of 5.84 RMB per share. The stock resumed trading on December 29th, with the opening reference price adjusted to 6.87 RMB per share. If the restructuring plan is not implemented effectively, the company's stock faces the risk of being delisted.