Shanghai Bailian Group announced that Lianhua Supermarket and its wholly-owned subsidiary Century Lianhua intend to transfer the 100% equity of Jiangsu Lianhua, Anhui Century Lianhua, and Hongkou Century Lianhua, three subsidiaries, to its wholly-owned subsidiary Dongran Industrial of the controlling shareholder Bailian Group, at a transfer price of 145.5234 million yuan. After the equity transfer is completed, Dongran Industrial will sign a management agreement with Lianhua Supermarket, where Lianhua Supermarket will provide operational management services and resource support services for a duration of three years. This transaction constitutes a related party transaction, but does not constitute a major asset restructuring, and does not require approval from the shareholders' meeting.