Gelonghui Group (000759.SZ) announced on March 1 that due to the macroeconomic and market environment, Yonghui Zhongbai has lost money year after year since 2019, falling short of established expectations. In order to further optimize resource allocation, improve asset quality, and improve operational efficiency, the company plans to sell 45% of Yonghui's shares through public listing. If interested transferees are not collected during the first round of public listing, the company will adjust the price in accordance with laws, regulations and other relevant regulations before listing again. After the transaction is completed, the company will no longer hold Yonghui Zhongbai's shares, and the scope of the company's consolidated statements has not changed.

Taking into account the current assessment situation of Yonghui Zhongbai's assets, the transfer price is not lower than the registered evaluation results (evaluation reference date June 30, 2023) and not less than RMB 1.