Joy City announced that the company and its wholly-owned subsidiary Huagao Real Estate hold a total of 45% of Baoxing Wire and Cable's shares. Previously, it had jointly listed and transferred 100% of Baoxing Wire and Cable's shares with Shenzhen Jiangtong, which holds 55% of the shares, and did not solicit qualified intended transferees at the end of the period. After a re-audit assessment, the overall listing reserve price for this transaction was adjusted to 927 million yuan. Of these, the reserve listing price of 45% of the company and Huagao Real Estate's shares was 417 million yuan. Other transfer conditions remained unchanged except for the reserve price. This adjustment has already been decided by the company's management. There is no need to submit it to the board of directors or shareholders' meeting for review. It does not constitute a major asset restructuring, and counterparties, consideration, etc. have not yet been determined.

Joy City announced that the company and its wholly-owned subsidiary Huagao Real Estate hold a total of 45% of Baoxing Wire and Cable's shares. Previously, it had jointly listed and transferred 100% of Baoxing Wire and Cable's shares with Shenzhen Jiangtong, which holds 55% of the shares, and did not solicit qualified intended transferees at the end of the period. After a re-audit assessment, the overall listing reserve price for this transaction was adjusted to 927 million yuan. Of these, the reserve listing price for 45% of the shares of the company and Huagao Real Estate was 417 million yuan. Other transfer conditions remained unchanged except for the reserve price. This adjustment has already been decided by the company's management. There is no need to submit it to the board of directors or shareholders' meeting for review. It does not constitute a major asset restructuring, and counterparties, consideration, etc. have not yet been determined.