Zhenhai Co., Ltd. announced that the controlling shareholder Ningbo Shuntong Group Co., Ltd. signed a “Share Transfer Agreement” with Shanghai Pu Meiquan Enterprise Management Consulting Partnership to transfer 35.802,900 shares of the company at a price of 15.51 yuan/share, with a total consideration of RMB 555 million. Before this equity change, Shuntong Group and Shunjian Group, the co-actor, held a total of 506.398 million shares of the company, accounting for 21.22% of the total share capital; after the change, they held a total of 148.37 million shares, accounting for 6.22% of the total share capital. After the transaction is completed, Park Mi-cheon will become the controlling shareholder of the company, and the actual controller will be changed to Mr. Zhang Wenlong. The transaction is still subject to procedures such as approval from the state-owned assets supervision and administration department and confirmation of compliance by the Shanghai Stock Exchange.

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