M&S ELECTRONICS: Controlling shareholder Xiang Rong intends to transfer 6.25% of shares through an agreement

M&S ELECTRONICS announced that the company's controlling shareholder and actual controller, Xiang Rong and his concerted parties, intend to transfer a total of 10.5 million shares they hold in the company through a negotiated transfer, accounting for 6.25% of the company's total share capital. The transfer price is 30.9 yuan per share, with a total transfer price of 324 million yuan. The transferee, Sichuan Development Leading Capital Management Co., Ltd., has committed not to reduce its holdings of shares acquired through this transaction for 18 months from the date of completion of the transfer registration of the subject shares. This equity change does not trigger a mandatory takeover offer and will not lead to changes in the company's controlling shareholder, actual controller, or corresponding control rights. This transaction is subject to compliance review by the Shanghai Stock Exchange