China Baoan (000009.SZ) participated in the substantial merger and restructuring of Shanshan Group and its wholly-owned subsidiary in investor recruitment

Zhitong Finance App News, China Baoan (000009.SZ) issued an announcement. The company held the 7th meeting of the 15th board of directors on December 12, 2025 to review and pass the “Proposal on Recruiting Investors to Participate in the Substantial Merger and Reorganization of Shanshan Group and its Wholly-owned Subsidiaries”, agreeing that the company will act as the leader of the restructuring investment consortium (hereinafter referred to as the “Consortium”) and its subsidiary Beitry New Materials Group Co., Ltd. (hereinafter referred to as “Shanshan Group”) and other potential investors to participate in Shanshan Group Co., Ltd. (hereinafter referred to as “Shanshan Group”) and other potential investors Funding The subsidiary Ningbo Pengze Trading Co., Ltd. (hereinafter referred to as “Ningbo Pengze”) is recruiting investors for the substantive merger and restructuring.

Currently, in accordance with the requirements of the announcement issued by the manager of Shanshan Group, the company has submitted registration materials, paid a due diligence deposit of 50 million yuan, and commissioned an intermediary agency to carry out due diligence. The board of directors of the company authorized the company's management to draw up and submit investment plans for restructuring and participate in on-site bid presentations and possible competitive negotiations.