Fengfan Co., Ltd. announced that the Tangshan State-owned Assets Administration Commission transferred 98.47802% of its state-owned shares held by Tang Kong Development Group to Hebei Guoxin Finance Holding Group Co., Ltd. free of charge. After the free transfer is completed, Hebei Industrial Finance Group will pass 30.08% of the shares of Tang Kong Development Group, Tianjin Finance Holdings, and Tangshan Industrial Control Indirect Control Company. The free transfer has been approved by the Tangshan Municipal People's Government, the relevant transfer agreement has been signed, and follow-up procedures are still required.

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