Gelonghui, December 29丨Jinchuang Group (603680.SH) announced that the 7th meeting of the 5th board of directors of the company (“Party B”) deliberated and passed the “Bill on Selling 100% of the subsidiary's shares”, agreeing to sell 100% of the company's shares in Jiangsu Mingxin Transportation Equipment Co., Ltd. (hereinafter referred to as “Mingxin Company” or “Target Company”) to Changzhou Heyuan Railway Technology Co., Ltd. (hereinafter referred to as “Changzhou Heyuan” or “Party A”). The transaction consideration was RMB 0.4 billion.

The company plans to sell 100% of the target company's shares in this transaction, based on the company's overall business development needs, in line with the company's future strategic layout, helping the company control international trade risks, optimize assets and business structure, increase the company's cash flow reserves, further enhance the company's overall competitiveness and sustainable profitability, and conforms to the interests of the company and all shareholders.

After this share sale is completed, Ming Xin will no longer be included in the scope of the company's consolidated statements, and the final impact on the company's profit and loss will be based on the results after the annual audit is confirmed.