Elite Color Environmental Resources Actual controller changes to Jiangyin SASAC via 22.72% share transfer and up to 300M yuan private placement subscription by Environmental Protection Group; outcome still uncertain.

Youcai Resources announced that its actual controllers Dai Zexin and Wang Xueping, along with the concert party Qunying Investment, signed a share transfer agreement with Environmental Protection Group to transfer approximately 22.72% of the company's shares in total. Meanwhile, Environmental Protection Group plans to subscribe for up to 33 million shares in the company's private placement, with a subscription amount not exceeding 300 million yuan. After the transaction is completed, Environmental Protection Group is expected to hold approximately 29.29% of the shares, the company's controlling shareholder will change to Environmental Protection Group, and the actual controller will change to the State-owned Assets Supervision and Administration Office of the Jiangyin Municipal People's Government. The company's shares will resume trading on September 11, and this matter remains subject to uncertainty.
Elite Color Environmental Resources Actual controller changes to Jiangyin SASAC via 22.72% share transfer and up to 300M yuan private placement subscription by Environmental Protection Group; outcome still uncertain.
Qunying Investment, a concert party of the sellers, transfers shares to Environmental Protection Group as part of the control change.