ST Funeng announced that on December 31, 2025, the company completed the industrial and commercial change registration and charter filing procedures to transfer 100% of its shares in Funeng Intelligent Manufacturing to Fenran Technology at a price of 283 million yuan. As of the date of this announcement, the company has received 144 million yuan in the second equity transfer payment from Fenran Technology. At this point, the company has completed the transfer of all shares in Funeng Intelligent Manufacturing and is no longer included in the scope of the company's consolidated statements. As of the date of registration of all share changes in Funeng Zhizao, the company no longer acts as a joint guarantee for Funeng Zhizao's execution of the “Supplementary Agreement”; the guarantee obligation is instead assumed by Feran Technology.

ST Funeng announced that on December 31, 2025, the company completed the industrial and commercial change registration and charter filing procedures to transfer 100% of its shares in Funeng Intelligent Manufacturing to Fenran Technology at a price of 283 million yuan. As of the date of this announcement, the company has received 144 million yuan in the second equity transfer payment from Fenran Technology. At this point, the company has completed the transfer of all shares in Funeng Intelligent Manufacturing and is no longer included in the scope of the company's consolidated statements. As of the date of registration of all share changes in Funeng Zhizao, the company no longer acts as a joint guarantee for Funeng Zhizao's execution of the “Supplementary Agreement”; the guarantee obligation is instead assumed by Feran Technology.