TIBET DEVELOPMENT: The controlling shareholder intends to donate cash of 182 million yuan to the company

TIBET DEVELOPMENT announced that on January 15, 2025, it received a letter from its controlling shareholder, Shengbang Holdings, requesting to add a temporary proposal. Shengbang Holdings has decided to donate cash assets of 182 million yuan to the company without any conditions, which is a unilateral, irrevocable gift from the controlling shareholder, and the company is not required to pay any consideration. The donated cash will be recorded as capital reserves and will have a positive impact on the company's asset-liability ratio and net assets, without affecting the company's current operating results. The company is currently still in the pre-restructuring stage, and its restructuring plan still needs to obtain approval from regulatory authorities and court acceptance documents. There is still uncertainty regarding whether the company can enter the restructuring process