Fuwei Co., Ltd. announced that the company received a notice from Yadong Investment, the controlling shareholder, that Yadong Investment plans to transfer 115 million shares of the company to FAW Group free of charge; at the same time, the Provincial State-owned Assets Operation Group and Tianyi Company plan to transfer all of their shares to FAW Group free of charge. After the transfer is completed, Fuao Co., Ltd. will form a concerted action relationship with FAW Group and FAW shares. After the transfer is completed, the controlling shareholder of the company will be changed from Yadong Investment to FAW Group, holding a total of 38.39% of the shares. The actual controller will be changed from the Jilin Provincial State-owned Assets Administration Commission to the State Council's State-owned Assets Administration Commission. This free transfer still needs to go through a number of procedures, and there is uncertainty about whether it can be completed.

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