BLEST: Announcement on the transfer of equity in a subsidiary holding company by its wholly-owned subsidiary

BLEST announced that its wholly-owned subsidiary, BLEST Lithium, will transfer its 40.1% equity stake in Wuxi Baiqing to Zhu Yueyuan and Jia Shaohua for a cash consideration of 1 yuan. After the transaction is completed, BLEST Lithium's shareholding in Wuxi Baiqing will decrease from 60% to 19.9%. This transaction aims to optimize resource allocation, focus on core business, and enhance the company's sustainable operation capability and profitability. The transaction will not have a significant impact on the company's existing business and operational development, nor will it adversely affect the company's financial condition and operating results