Sichuan Fulun Logistics Group Co., Ltd.
Announcement on the Acquisition of Investee Company
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or material omissions.
Sichuan Fulun Logistics Group Co., Ltd. (hereinafter referred to as the "Company") recently received a notice from its investee, Santai Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Santai Commercial Bank"), stating that it has completed its acquisition by Mianyang Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Mianyang Commercial Bank"). As a result, the Company's original 9.7876% equity in Santai Commercial Bank has been converted into a 1.9553% equity in Mianyang Commercial Bank.
I. Overview of the Investee Company's Acquisition
To implement the decisions of the Party Central Committee, the State Council, and the Sichuan Provincial Party Committee and Government on deepening the reform of rural credit cooperatives, with the approval of the Sichuan Financial Regulatory Bureau, Mianyang Commercial Bank will acquire six rural commercial banks, including Santai Commercial Bank. Mianyang Commercial Bank recently received its business license approval and completed the industrial and commercial change procedures for its branches.