The change of controlling shareholder of Shanghai Sanmao has been approved by the Chongqing State-owned Assets Supervision and Administration Commission, and the actual controller remains unchanged

Shanghai Sanmao Enterprise Co., Ltd. announced that, in order to deepen the reform of state-owned enterprises, Chongqing Light Textile Holding Company plans to transfer 52,158,943 shares it holds in the company to its controlling shareholder, Chongqing M&E Holding Company, free of charge. On July 21, 2025, this free transfer was approved by the Chongqing State-owned Assets Supervision and Administration Commission. After the completion of this transfer, the company's controlling shareholder will change from Light Textile Group to M&E Group, while the actual controller will still be the Chongqing State-owned Assets Supervision and Administration Commission. Currently, the transfer still requires compliance confirmation from the Shanghai Stock Exchange and registration with the Shanghai branch of China Securities Depository and Clearing Corporation, which carries some uncertainty. The company stated that this change will not affect daily operations and will disclose subsequent developments in a timely manner