Shanghai Zijiang Enterprise Group announced that the company plans to transfer 23% equity of Shanghai Zijiang New Materials to Shanghai Welltech Automation. Before the Trade, the company held 58.94% of the shares in Shanghai Zijiang New Materials, and after the Trade, the company will still hold 35.94% of the shares. Shanghai Welltech Automation initially estimates that it will purchase a total of about 40% of the equity in Shanghai Zijiang New Materials, and there is a possibility that after the final Trade is completed, Shanghai Zijiang New Materials will no longer be included in the consolidated financial statements of the company.