ST Meichen: Adjusts Major Asset Sale Plan, Intends to Publicly List and Transfer 100% Equity of Saishi Landscape

ST Meichen announced that the company's board of directors has reviewed and approved adjustments to the major asset sale plan, terminating the "Major Asset Sale Framework Agreement" with Weifang Julong Chemical Fiber Group Co., Ltd., and changing the original method of transferring 100% equity of its wholly-owned subsidiary Hangzhou Saishi Landscape Group Co., Ltd. through a non-public agreement to a public listing transfer through the Shandong Property Rights Exchange Center. With June 30, 2026 as the valuation benchmark date, the appraised value of all shareholders' equity of Saishi Landscape is -980 million yuan, the starting price for this public listing is 1.00 yuan, and the final transaction price will be determined based on the public listing results. The transaction consideration will be paid in cash, and the interim period gains or losses will be borne or enjoyed by the counterparty. This transaction still needs to be submitted to the shareholders' meeting for review, and the counterparty has not yet been determined.