Songfa Co., Ltd.: Planning Major Asset Restructuring, Stock Suspension

Songfa shares announcement: Due to the plan of major asset restructuring, the company’s stock will be suspended from trading starting from September 30, 2024, and will continue to be suspended until October 8, 2024. The expected suspension time will not exceed 10 trading days. This transaction intends to sell part or all of the assets and liabilities of the listed company through asset sales, asset replacement, and other methods, and to acquire some equity of Hengli Heavy Industry or its subordinate subsidiaries. The specific scope of the assets to be sold has not yet been determined, and the transaction method and plan are still under negotiation and demonstration.