Zhumian Group Plans to Issue Shares to Acquire 49% Stake in Duty-Free Company, Stock Suspension

Zhumian Group announced that the company has signed a "Letter of Intent" with Zhuhai Investment Holdings Co., Ltd. and Zhuhai Kangge Investment Co., Ltd. to acquire a 26% stake in Zhuhai Duty-Free Enterprise Group Co., Ltd. held by Haitou Company and a 23% stake in the duty-free company held by Kangge Investment through the issuance of shares and cash payment, along with raising supporting funds. The company currently holds a 51% stake in the duty-free company, and upon completion of the transaction, the duty-free company will become a wholly-owned subsidiary. This transaction constitutes a related party transaction and is expected to be a major asset restructuring, which will not result in a change of controlling shareholder or actual controller, nor will it constitute a restructuring listing. The company's stock will be suspended from trading starting from November 12, 2026, and the suspension is expected to last no more than 10 trading days.

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