Shanghai Jiahua announced that the company plans to sell 19% of Sephora Cosmetics Sales Co., Ltd. and 19% of Sephora Cosmetics Sales Co., Ltd.'s shares to SEPHORA ASIA PTE.LTD. The total share transfer price is 70 million euros, which is equivalent to about 555 million yuan at an exchange rate of 7.93 million yuan on the reference date. This transaction is a cross-border transaction. The payment method is a full one-time payment. There is no performance gambling clause, and there will be no change in the scope of the listed companies' consolidated statements after the transaction is completed.

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