SID: The Shanghai State-owned Assets Supervision and Administration Commission has indirectly controlled more than 30% of the equity of SID through Shangshi Group, becoming the indirect controlling shareholder of SID

SID announced that the Shanghai State-owned Assets Supervision and Administration Commission will adjust its equity in Shanghai Shanshi Group to the newly established subsidiary Jinzhong Holdings, thereby allowing Shanghai Shanshi to indirectly hold equity in SID and become the indirect controlling shareholder of SID. According to Article 63 of the Measures for the Administration of Acquisitions of Listed Companies, this acquisition qualifies for exemption from the obligation to make a public offer