ST Jinhong: Plans to sell all equity in Weihai Gas, may constitute a major asset restructuring

ST Jinhong announced that, in order to focus on its core gas business, optimize its regional asset layout, revitalize existing assets and improve cash flow, the company intends to transfer all of its equity interest in Weihai Gas Co., Ltd. This transaction is expected to constitute a major asset sale and will not constitute a restructuring listing. It is currently at the stage of publicly soliciting interested transferees. The counterparty, transaction method, transaction price and whether it constitutes a related-party transaction have not yet been determined. There is uncertainty as to whether the transaction can be completed, and it is temporarily impossible to estimate the transaction gain or loss and its impact on the company's financial condition.