TQM: Hu Jinsheng and 8 other concerted actors plan to reduce their holdings by 162 million shares

TQM announced that Hu Jinsheng and 8 other concerted actors plan to transfer their 162 million shares in the company to Xinjiang Jianfa Fanyu Industrial Investment Fund Partnership through a negotiated transfer. At the same time, Ren Wei will waive the voting rights corresponding to the remaining shares held in the listed company after this transaction. After the completion of this equity change, Jianfa Fanyu will become the controlling shareholder of the company, and the Urumqi Economic and Technological Development Zone State-owned Assets Supervision and Administration Commission will become the actual controller of the company. The total amount for this share transfer is RMB 1.03 billion