Listing process full of twists and turns! Yabang Co., Ltd. successfully transfers all assets of Ningxia Yadong for 74.05 million yuan

In early 2026, Abang Stock (603188) reviewed and approved relevant proposals, intending to publicly list on the Changzhou Property Exchange to package and transfer 100% equity of Ningxia Yadong Chemical Co., Ltd. and the corresponding creditor's rights held by the company.

Abang Stock was established in 2006 through the integration of the group's dye business and listed on the Shanghai Stock Exchange in 2014. It is a global large-scale production base for anthraquinone series dyes and intermediates, with the production and sales volume of many core dye products ranking among the top in the world. The target company, Ningxia Yadong, was established in 2010 and mainly engages in fine chemical categories, which deviates from the company's core main business. This asset transfer aims to optimize resource allocation, reduce operation and management costs, and improve the efficiency of corporate fund usage.

First Round Listing Failed, Second Round Bidding Successfully Concluded

On the evening of August 3, the company disclosed the entire transaction process. The asset transfer had previously experienced a failure in the first round of listing. During the first listing period from March 10 to April 7, 2026, only one qualified intended transferee was solicited; however, the transaction was terminated because the enterprise failed to pay the deposit in full and on time.

Subsequently, the company restarted the transfer work and completed the second listing from June 30 to July 6, 2026. This listing solicited two intended transferees. Through public bidding, Qingyuan Xinhao Management Consulting Co., Ltd. was finally determined as the ultimate transferee.

Transaction Price Fixed, Installment Payment Paired with Full Security

On July 20, 2026, Abang Stock formally signed the "Property Rights Transaction Contract" with the transferee. The total price for the packaged transfer of equity and creditor's rights this time was 74.0501 million yuan.

On July 28, 2026, the company received the first transfer payment of 37.0251 million yuan. The remaining balance will be settled within one year after the contract becomes effective. To guarantee transaction performance, the transferee established mortgages and pledges using Ningxia Yadong's plant, land, and all equity, and its actual controller provided joint and several liability guarantees. All guarantee procedures have been completed.

Completion of Business Registration Delivery, Target Company Removed from Consolidated Statements

On July 31, 2026, Ningxia Yadong successfully completed all industrial and commercial change registrations. The two parties signed the "Property Rights Delivery Certificate" on the same day, confirming the completion of the delivery of all equity and creditor's rights.

From now on, Ningxia Yadong will no longer be included in the scope of Abang Stock's consolidated financial statements. The final impact of this transaction on the company's operating profits and losses will be subject to the annual audit results.