JIANGNAN CHEMICAL: Plans to publicly delist Chongqing Shun'an Explosive Materials Co., Ltd. The transfer base price for 100% equity is 1 billion yuan

JIANGNAN CHEMICAL announced that the company plans to participate in the public transfer of 100% equity of Chongqing Shun'an Explosive Materials Co., Ltd. The transfer base price is 1 billion yuan, and the final amount will be determined by the bidding results. This transaction does not constitute a related party transaction or a major asset restructuring and needs to be submitted to the company's shareholders' meeting for approval. If the transaction is completed, JIANGNAN CHEMICAL will hold 100% equity of Shun'an Explosive and include it in the company's consolidated financial statements. This project is jointly transferred with the 30% equity project of Chongqing Shun'an Nantong Explosive Materials Co., Ltd., and the transferee of this project will also become the transferee of the 30% equity project of Chongqing Shun'an Nantong Explosive Materials Co., Ltd., with the transaction price for the 30% equity project being the transfer base price of 33.74457 million yuan