Fenglong Co., Ltd.: Plans to transfer 100% of its subsidiary's equity for 34 million yuan and accept related guarantees.

Fenglong Co., Ltd. announced that on August 11, the company signed an agreement with Jinchang Electric to transfer 100% equity of its wholly-owned subsidiary, Maiseng Machinery, for 34 million yuan. After the transfer, it will no longer be included in the consolidated financial statements. Dong Jiangang, a shareholder holding more than 5% of the company, provided a gratuitous joint liability guarantee for the performance of the agreement. On August 12, the proposal was approved by the board of directors and is still subject to shareholder meeting approval. This transaction is expected to generate disposal gains, positively impacting the financial position and operating results.