Guangxi Agricultural Investment Sugar Industry: State-owned equity of 14.98% is proposed to be transferred without compensation.

Guangxi Agricultural Development Sugar Industry announced that it has recently received a share transfer agreement without consideration signed by Zhenning Company and Production Investment Company. Zhenning Company intends to transfer its 59,954,972 shares of the company to Production Investment Company. After the transfer, Zhenning Company will no longer hold shares, and Production Investment Company will become the second largest shareholder. This change in equity does not affect the controlling shareholder and the actual controller of the company, and has no substantial impact on operations, profits, and asset composition. This matter still needs confirmation from the Shenzhen Stock Exchange for compliance, and there is uncertainty as to whether it can be completed.