ST Jiuyou (600462.SH) announced that in order to optimize the company's business structure and meet the needs of its management, its wholly-owned subsidiary, Shenzhen Tiantian Weigou Service Co., Ltd. (hereinafter referred to as "Tiantian Weigou"), plans to sign an equity transfer agreement with Hanuo Times (Beijing) Technology Co., Ltd. (Chen Kai holds 100% of its shares) (hereinafter referred to as "Hanuo Times") to transfer the 57% equity of Hanuo Ruiya held by Tiantian Weigou to Hanuo Times at a price of 1 yuan. After the completion of this transaction, the company will no longer hold the equity of Hanuo Ruiya, and Hanuo Ruiya will no longer be included in the scope of the company's consolidated financial statements.

The announcement stated that due to the poor performance of Hanuo Ruiya, a second-tier subsidiary, in recent years and its long-term loss-making status, and in order to optimize the company's business structure, improve its operational efficiency, reduce losses, and divest inefficient assets, Tiantian Weigou plans to transfer its 57% equity of Hanuo Ruiya held to Hanuo Times at a price of 1 yuan. The sale of 57% equity of Hanuo Ruiya will not affect the normal operations of the company's business activities.