*ST Huaxing announced that the company previously disclosed that it had entered pre-restructuring and determined that Hangzhou Chengfengerlai and Nanyang Magnolia Consortium were selected investors for the restructuring. Recently, the company signed a “Reorganization Investment Agreement” with the relevant restructuring investors and temporary managers. The industrial investors and designated entities plan to transfer a total of 2 billion shares of Huaxia Happiness to be transferred to additional shares, which is estimated to account for about 20.55% of the total share capital after the restructuring, and the total investment amount for the restructuring is 1.2 billion yuan.

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