Zhufen Group announced that the Urban Construction Group, a subsidiary of Huafa Group, plans to transfer 23% of its shares in Zhuhai Duty Free Enterprise Group Co., Ltd. to Kangge Investment, a subsidiary of Gree Group, in a consideration agreement of 3.172 billion yuan. The company holds 51% of the tax-exempt company's shares and is its controlling shareholder. After comprehensive consideration, it plans to relinquish the priority purchase rights in this share transfer. The transaction constituted a related transaction and did not constitute a major asset restructuring. After the transaction was completed, the company's shareholding ratio in the tax-exempt company remained the controlling shareholder. This related transaction still needs to be submitted to the shareholders' meeting for consideration.

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