Recently, Yabang Group (603188.SH) announced that the company has received the "Execution Ruling" (2024 Su 04 Executive Recovery 49, 50, 51, 52, 53, 56, one of them) from the Intermediate People's Court of Changzhou City, Jiangsu Province. The main content includes: lifting the freeze on a total of 118.9 million shares of Yabang held by the executed person Yabang Group and its concerted action person Xu Xudong; these 118.9 million shares of Yabang stock will be delivered to the applicant for execution, Guo Jing Group, at a bid price of 275,949,100 yuan to offset the debt owed by the executed person, with ownership transferring starting from the delivery of the ruling to the applicant, Jiangsu Guojing Holding Group Co., Ltd. Guo Jing Group will bring the ruling to the registration authority for the relevant property transfer registration procedures. This ruling execution stock accounts for 20.85% of the company's total share capital. At the same time, after the company consulted with China Securities Depository and Clearing Co., Ltd. Shanghai Branch, it was learned that Guo Jing Group had recently completed the transfer registration of 50.1 million shares of Yabang stock that were judicially auctioned and confirmed by the court, accounting for 8.79% of the company's total share capital.

This equity change does not involve a tender offer. After this equity change is completed, Guo Jing Group will hold 29.64% of the shares of Yabang. The actual controller of Guo Jing Group is the State-owned Assets Management Office of Wujin District, Changzhou City (referred to as "Wujin State-owned Assets Office"). The controlling shareholder of the company will change to Guo Jing Group, and the actual controller will change to Wujin State-owned Assets Office. This equity change will lead to a change in the company's control, thereby significantly affecting the company's equity structure, corporate governance, and commitments related to performance compensation for the controlling shareholder.