Wolong Electric Group announced that the company plans to sell its 43.21% equity stake in the subsidiary Long Energy Electrical Utilities, 80% equity stake in Wolong Energy Storage, 51% equity stake in Wolong Ingeniard, and 70% equity stake in Shunfeng Electrical Utilities to the related party DRAGON MINING. After the transaction is completed, the company will no longer have control over the aforementioned subsidiaries, and the scope of the consolidated financial statements will change. DRAGON MINING plans to pay for the equity consideration in Cash / Money Market. This transaction constitutes a related party transaction but does not constitute a major asset reorganization. The transaction plan still needs further verification and negotiation and has not yet signed a formal transaction agreement. There are still significant uncertainties regarding the matters related to this transaction.