Xiangshan Co., Ltd. announced that on November 25, 2025, the company signed a “Property Rights Transaction Contract” with an associated consortium of natural persons to transfer 100% of the shares of the wholly-owned subsidiary Guangdong Xiangshan Electronic Technology Co., Ltd. at a price of RMB 360 million. The transaction has been settled, and the company has received the full share transfer. After the transaction is completed, Xiangshan Electronics and its subsidiaries will no longer be included in the scope of the company's consolidated statements. Prior to the deal, the company had an unterminated guarantee of 270 million yuan for Xiangshan Electronics, which was cancelled after the transaction.

Xiangshan Co., Ltd. announced that on November 25, 2025, the company signed a “Property Rights Transaction Contract” with an associated consortium of natural persons to transfer 100% of the shares of the wholly-owned subsidiary Guangdong Xiangshan Electronic Technology Co., Ltd. at a price of RMB 360 million. The transaction has been settled, and the company has received the full share transfer. After the transaction is completed, Xiangshan Electronics and its subsidiaries will no longer be included in the scope of the company's consolidated statements. Prior to the deal, the company had an unterminated guarantee of 270 million yuan for Xiangshan Electronics, which was cancelled after the transaction.