Shanghai Sanmao (600689): To Reduce The Listing Price Of Chongqing Yimao 100% Equity

Shanghai Sanmao (600689. SH) announced that in October 2020, the company held the second extraordinary general meeting of shareholders in 2020, deliberated and passed the proposal on public listing and transfer of 100% equity of Shanghai Yimao textile Chongqing Co., Ltd., and the general meeting of shareholders agreed that the company would publicly transfer its Shanghai Yimao textile Chongqing Co., Ltd. through Chongqing United Property Exchange with the evaluation price of RMB 24932400 Ltd. (hereinafter referred to as "Chongqing Yimao") 100% equity.

Up to now, Chongqing Yimao 100% equity project has failed to solicit the intended transferees. In order to continue to promote the transfer of the underlying assets and accelerate the liquidation of non-performing assets, the company plans to reduce the listing price of the underlying assets to 90% of the evaluation price, that is, to continue to transfer 100% of Chongqing yimaotiao through Chongqing United equity exchange with RMB 22.4392 million as the listing price Equity, other listing conditions are consistent with the initial listing conditions.