ST Meichen announced that the company's board of directors reviewed and approved adjustments to the major asset sale plan, terminated the “Significant Asset Sale Framework Agreement” with Weifang Julong Chemical Fiber Group Co., Ltd., and adjusted the original non-disclosure agreement to transfer 100% of the shares of the wholly-owned subsidiary Hangzhou Saishi Garden Group Co., Ltd. to a public listing transfer through the Shandong Property Exchange Center. Using June 30, 2026 as the evaluation reference date, the assessed equity value of all shareholders of Saishi Garden was -980 million yuan. The reserve price for this public listing was 1.00 yuan. The final transaction price was determined based on the results of the public listing. The transaction consideration was paid in cash, and the profit and loss during the transition period was borne or enjoyed by the counterparty. The transaction still needs to be submitted to the shareholders' meeting for review, and the counterparty to the transaction has not yet been determined.

ST Meichen announced that the company's board of directors reviewed and approved adjustments to the major asset sale plan, terminated the “Significant Asset Sale Framework Agreement” with Weifang Julong Chemical Fiber Group Co., Ltd., and adjusted the original non-disclosure agreement to transfer 100% of the shares of the wholly-owned subsidiary Hangzhou Saishi Garden Group Co., Ltd. to a public listing transfer through the Shandong Property Exchange Center. Using June 30, 2026 as the evaluation reference date, the assessed equity value of all shareholders of Saishi Garden was -980 million yuan. The reserve price for this public listing was 1.00 yuan. The final transaction price was determined based on the results of the public listing. The transaction consideration was paid in cash, and the profit and loss during the transition period was borne or enjoyed by the counterparty. The transaction still needs to be submitted to the shareholders' meeting for review, and the counterparty to the transaction has not yet been determined.