Xingfa Group: Yichang Xingfa, the controlling shareholder, plans to increase its holdings by ¥100 million to ¥200 million

 On December 15, Xingfa Group issued an announcement on the progress of the controlling shareholder's shareholding increase plan and the first increase in the company's shares.

According to the announcement, based on the confidence in the company's future development prospects and the recognition of medium - and long-term investment value, Yichang Xingfa Group Co., LTD. (hereinafter referred to as "Yichang Xingfa"), the controlling shareholder of Hubei Xingfa Chemical Group Co., LTD., intends to, within 12 months from December 12, 2023, By means permitted by the Shanghai Stock Exchange (including but not limited to centralized bidding trading, block trading, etc.), increase the shares of the company with its own funds, and the total amount of the increase is not less than 100 million yuan (including the capital) and not more than 200 million yuan (including the capital). There is no price range for this plan, and the plan will be implemented according to the volatility of the company's stock price and the overall trend of the capital market.

Progress in the implementation of the shareholding increase plan: 

From December 13, 2023 to December 14, 2023, Yichang Xingfa has completed the first increase of 1,329,800 shares, accounting for 0.12% of the total number of shares issued by the company, and the amount of additional holdings is 23,837,944 yuan (including transaction fees). 

As of the date of disclosure of this announcement, Yichang Xingfa holds 216,808,365 shares of the Company, accounting for 19.50% of the total share capital of the Company. Yichang Xingfa will continue to increase its shares in accordance with this plan.