The actual controller of Zhonghuan Environmental Protection will change to Liu Yang, and trading will resume on October 10

According to the announcement from Zhonghuan Environmental Protection (300692.SZ), on October 9, 2025, Mr. Zhang Bozhong, the company's controlling shareholder and actual controller, along with his concerted party Anhui Zhongchen Investment Holdings Co., Ltd. (hereinafter referred to as "Zhongchen Investment"), signed a "Share Transfer Agreement" with Beijing Dingyuan Enterprise Management Consulting Partnership (Limited Partnership) (hereinafter referred to as "Beijing Dingyuan") and Jiaxing Dingkang Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Jiaxing Dingkang"). Mr. Zhang Bozhong will transfer 16,391,359 shares of the company (accounting for 3.8612% of the company's total share capital) to Jiaxing Dingkang, Zhongchen Investment will transfer 4,936,196 shares of the company (accounting for 1.1628% of the company's total share capital) to Jiaxing Dingkang, and Zhongchen Investment will transfer 49,213,804 shares of the company (accounting for 11.5931% of the company's total share capital) to Beijing Dingyuan. The total number of shares transferred is 70,541,359 shares (accounting for 16.6171% of the company's total share capital), with a transfer price of approximately 8.48 yuan/share, and the total transfer consideration is 598 million yuan.

To maintain and ensure the stability of the company's control after the completion of this transaction, Mr. Zhang Bozhong has committed and guaranteed in the "Share Transfer Agreement" that after the completion of this transaction, during the period when the transferee actually controls the listed company, he will not seek or assist others in seeking actual control of the company in any way, either alone or jointly; during his personal holding of the company's shares, he irrevocably waives the voting rights of the 19,174,075 shares he personally holds (accounting for 4.5168% of the company's total share capital, and if the company issues shares in the future, this number of shares will be adjusted accordingly, and he also waives the voting rights of shares acquired through secondary market purchases), while retaining the voting rights of the 30,000,000 shares he personally holds (accounting for 7.0670% of the company's total share capital, and this number of shares will also be adjusted accordingly if the company issues shares in the future).

After the completion of this equity change, Beijing Dingyuan will hold 49,213,804 shares of the company, accounting for 11.5931% of the company's total share capital, and Jiaxing Dingkang will hold 21,327,555 shares of the company, accounting for 5.0240% of the company's total share capital. Together, Beijing Dingyuan and Jiaxing Dingkang will hold 70,541,359 shares of the company, accounting for 16.6171% of the company's total share capital. The company's controlling shareholder will change to Beijing Dingyuan, and the actual controller will change to Mr. Liu Yang.

Following the company's application to the Shenzhen Stock Exchange, the company's stock and convertible bonds will resume trading from October 10, 2025 (Friday), and the company's convertible bond "Zhonghuan Convertible 2" will resume conversion