Hengbang Group: Subsidiary intends to reduce its stake in Wangguo Gold by 3.69%

Hengbang Corporation announced that its wholly-owned subsidiary Shandong Hengbang Mining Development Co., Ltd. plans to reduce its holdings of up to 40 million shares of Shandong Hengbang Mining Development Co., Ltd., which is listed on the Hong Kong Stock Exchange, through centralized bidding, block trading, and agreement transfer within 12 months from the date of approval by the shareholders' meeting, accounting for approximately 3.69% of its total share capital. The selling price will be determined based on market prices, and the transaction counterparty, specific timing, and price have not been determined. The relevant proposal has been approved by the company's board of directors and still needs to be voted on by shareholders at the general meeting.