Longgao Stock (605086.SH) announced on October 31st, that the controlling shareholder Longyan Investment Development Group Co., Ltd. (referred to as "Investment Group") plans to transfer 6,000,000 shares held before the company's initial public offering of stocks to Longyan Hongtong Investment Co., Ltd. (referred to as "Hongtong Investment") through an agreement transfer method, accounting for approximately 3.35% of the total share capital of the company. The transfer price of the shares is 17.26 yuan per share, with a total transfer price of 103,560,000 yuan. According to the audit data of Hongtong Investment's wholly-owned subsidiary Xiamen Zhonglong Tianyi Investment Holdings Co., Ltd. (referred to as "Zhonglong Tianyi") as of June 30, 2024, Hongtong Investment will pay the transfer price to Investment Group based on the audited net assets of Zhonglong Tianyi, in exchange for the 63.81% equity it holds.

Investment Group and Hongtong Investment have signed a "Joint Action Agreement" where Hongtong Investment becomes a new joint actor with Investment Group. The actual controlling shareholders of Investment Group and Hongtong Investment are both the State-owned Assets Supervision and Administration Commission of the People's Government of Longyan City, Fujian Province. This agreement transfer between parties under the same control does not involve a tender offer or centralized competitive bidding. This agreement transfer will not lead to changes in the company's controlling shareholder, actual controller, or corresponding control rights, and will not have any adverse impact on the company's continued stable operation.