Hehua Co., Ltd. announced that the controlling shareholder Yinyi Holdings and Zhongzhelui signed an “Asset Transfer Agreement” on September 9, 2025 to transfer 87 million shares and all accounts receivable. The change in rights has been approved by the pledgee, and the two parties have signed a supplementary agreement. Recently, the Shenzhen Stock Exchange completed compliance confirmation, and China Zhelui paid 355 million yuan in equity transfers. If the transaction is completed, the controlling shareholder will be changed to Zhongrui He, and the actual controller will be changed from Xiong Xuqiang to Yang Helong. However, it is uncertain whether and when the transfer will be completed.

Hehua Co., Ltd. announced that the controlling shareholder Yinyi Holdings and Zhongzhelui signed an “Asset Transfer Agreement” on September 9, 2025 to transfer 87 million shares and all accounts receivable. The change in rights has been approved by the pledgee, and the two parties have signed a supplementary agreement. Recently, the Shenzhen Stock Exchange completed compliance confirmation, and China Zhelui paid 355 million yuan in equity transfers. If the transaction is completed, the controlling shareholder will be changed to Zhongrui He, and the actual controller will be changed from Xiong Xuqiang to Yang Helong. However, it is uncertain whether and when the transfer will be completed.