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Xinhua Department Store: The agreement to transfer shares by controlling shareholder Wumei Technology has been terminated

K-LinePoet
Xinhua Department Store Co., Ltd. announced that its controlling shareholder, Wumei Technology Group Co., Ltd., on January 13, 2026, respectively signed the “Share Transfer Agreement” with Hangzhou Jingqi Electronic Information Partnership Enterprise (Limited Partnership) and with Xiamen Lianxin Enterprise Management Partnership Enterprise (Limited Partnership). It was agreed that Wumei Technology would transfer, by agreement, 11.2816 million shares of its unrestricted shares (representing 5% of the company’s total share capital) to Hangzhou Jingqi, and would transfer, by agreement, 11.2816 million shares of its unrestricted shares (representing 5% of the company’s total share capital) to Xiamen Lianxin Mei. On July 11, 2026, the Company received a notice letter from Wumei Technology, informing that on the same day, it respectively signed the “Termination Agreement(s) to the ” with Hangzhou Jingqi and Xiamen Lianxin Mei. All parties unanimously agreed that, as of the effective date of the termination agreements, the aforementioned “Share Transfer Agreement” signed on January 13, 2026 would be immediately and completely terminated, and would no longer have any legal effect.
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