JSGT: The controlling shareholder transferred equity without compensation, and the actual controller changed to the State-owned Assets Management Center of Zhangjiagang City

Jiangsu Guotai announced that the company's controlling shareholder and actual controller are planning to transfer equity without compensation. The People's Government of Zhangjiagang City, Jiangsu Province intends to transfer its 100% equity in Jiangsu Guotai International Trade Co., Ltd. to the wholly state-owned company Zhangjiagang Industrial Development Group Co., Ltd., which is funded by the Zhangjiagang State-owned Assets Management Center, without compensation. After this transfer, the company's controlling shareholder will remain unchanged, still being International Trade, while the actual controller of the company will change to the Zhangjiagang State-owned Assets Management Center. This transfer without compensation is pending the signing of a formal agreement and completion of the delivery by both parties involved in the transfer