AYIS: Plans to sell subsidiary equity to controlling shareholder

AYIS announced that the major asset restructuring plan originally planned by the company has encountered difficulties in advancing as scheduled due to the discovery of historical issues with certain assets of Henan Angang Group Wuyang Mining Co., Ltd. As a result, the plan has been changed to sell the equity of subsidiaries to the controlling shareholder. The original transaction target was part of the equity of Wuyang Mining Company held by the controlling shareholder Angang Group, which has now been changed to the sale of all equity of Yongtong Company and Yuhe Company. This move is beneficial for accelerating the transaction process, quickly optimizing the company's asset structure, supplementing the listed company's working capital, and further improving the operating conditions of the listed company