Zhongtong Finance APP news, Shougang Cent (00103) announced that on June 18, 2024, the company received a notice from its major shareholder Fair Union Holdings Limited (Fair Union) and the company's shareholder Qin Tai Management Co., Ltd. (Qin Tai Management) regarding the transfer of its currently held issued shares of the company by way of public tendering and solicitation of transferees; Fair Union intends to transfer its currently held issued share capital of no more than 4.47% of the company and Qin Tai Management intends to transfer its currently held issued share capital of approximately 0.43% of the company (recommended transfer).

Approval from relevant government departments is required before the recommended transfer can proceed. The obtaining of approval and the time for obtaining such approval are uncertain. If the recommended transfer proceeds, the company will promptly fulfill the approval and disclosure procedures under the listing rules (if necessary). As of the date of this announcement, Fair Union holds 894 million shares of the company, representing approximately 45.67% of the company's issued share capital, and Qin Tai Management holds 8.446 million shares of the company, representing approximately 0.43% of the company's issued share capital. Fair Union continues to be bullish on the company's development prospects and the recommended transfer aims to enhance the diversification of the company's shareholders in order to promote business synergy and development.