<p>SID announced that its actual controller, the Shanghai State-owned Assets Supervision and Administration Commission, will transfer its 100% equity in Shanghai SID Group to its wholly-owned subsidiary, Jinzhong Holdings, thereby increasing Shanghai SID's indirect control of the company's shares from the original 6.06% to 56.18%, making it the company's indirect controlling shareholder</p>

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<p>SID announced that its actual controller, the Shanghai State-owned Assets Supervision and Administration Commission, will transfer its 100% equity in Shanghai Shanshi Group to Jinzhong Holdings, a wholly-owned subsidiary of Shanghai Shanshi. As a result, the indirect control of the company's shares by Shanghai Shanshi will increase from the original 6.06% to 56.18%, making it the indirect controlling shareholder of the company</p>

SID: Shanghai SID has become the indirect controlling shareholder of the company