Fengfan Co., Ltd. announced that the Tangshan State-owned Assets Administration Commission plans to transfer 98.47802% of its state-owned shares held by Tang Kong Development Group to Hebei Industrial Finance Group free of charge. After this transfer, Hebei Industrial Finance Group will indirectly hold 30.08% of the company's shares through Tang Kong Development Group and other entities, becoming the company's indirect controlling shareholder. This acquisition is a free transfer of state-owned shares. It does not involve capital payments, and will not result in a change in the controlling shareholder or actual controller of the company. The controlling shareholder is still Tangshan Industrial Control, and the actual controller is still the Tangshan State-owned Assets Administration Commission. The acquisition has been approved by the Tangshan Municipal People's Government, and it is still necessary to go through the registration procedure for changes in the market supervision and administration department.

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