Kangxin New Materials has completed the industrial and commercial change registration for the transfer of 60% equity in its subsidiary

On April 25, 2025, Kangxin New Materials Co., Ltd. reviewed and approved the proposal to publicly transfer 60% of the equity of its controlling subsidiary, Hubei Tianxin Wooden Structure Housing Manufacturing Co., Ltd. The transferor is its wholly-owned subsidiary Hubei Kangxin, with an initial listing price of 62.7014 million yuan. It was officially listed on June 13, and the first round of listing ended on July 24 without attracting a buyer. On July 30, the company adjusted the transfer price to 60.5925 million yuan, and on August 1, it was listed for the second time, attracting a buyer, Hubei Ruicheng Cultural Tourism Co., Ltd. As of now, Hubei Kangxin has received all payment, completed the equity transaction and industrial and commercial change registration, and no longer holds equity in Tianxin Company, which is also no longer included in the consolidated financial statements