TIMES: The Guangzhou State-owned Assets Supervision and Administration Commission will become the actual controller of the company

According to the Zhitong Finance APP, TIMES (001234.SZ) announced that on August 12, 2025, the company's controlling shareholder Rugao Xintai Investment Co., Ltd. (hereinafter referred to as "Xintai Investment"), shareholder Nantong Taida Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Taida Investment"), Nantong Tairan Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Tairan Investment"), actual controllers Mr. Lu Biao and Ms. Yang Min signed a "Share Transfer Agreement" with Guangzhou Light Industry Trade Group Co., Ltd. (hereinafter referred to as "Guangzhou Light Industry Group"). Xintai Investment intends to transfer its 32.8132 million unrestricted circulating shares of the listed company to Guangzhou Light Industry Group, accounting for 29.99% of the total share capital of the listed company.

At the same time, the controlling shareholder Xintai Investment, shareholder Taida Investment, and Tairan Investment will waive their voting rights corresponding to a total of 23.1868 million shares (approximately 21.19% of the total share capital of the listed company) legally held in the listed company. If this share transfer is implemented and completed, the company's controlling shareholder and actual controller will change. Guangzhou Light Industry Group will become the controlling shareholder of the company, and the Guangzhou State-owned Assets Supervision and Administration Commission will become the actual controller of the company