SMEIC: The transfer of 5% shares by the controlling shareholder has been approved by the Shanghai State-owned Assets Supervision and Administration Commission

Shanghai Mechanical and Electrical announced that its controlling shareholder, Shanghai Electric, intends to transfer 51.137 million shares of the company's unrestricted circulating shares to Shanguo Investment Management through a negotiated transfer, accounting for 5% of the company's total share capital. The transfer price is RMB 860 million, with a transfer price of RMB 16.81 per share. This transfer has been approved by the Shanghai State-owned Assets Supervision and Administration Commission and still requires compliance confirmation from the Shanghai Stock Exchange and the handling of share transfer registration. This transfer will not result in a change of control of the company, and Shanghai Electric will remain the controlling shareholder