Announcement of the disposal of a major subsidiary by the Company, resulting in the loss of control
1.Name of the major subsidiary、Article 7 paragraph 3 subsidiary deemed as
the listed company, or a subsidiary of a listed company applies for listing
of securities in an overseas securities market for trading:
Shanghai Les Enphants Children Articles Co., Ltd.
2.Cause of occurrence of the event (reduce the percentage of shareholding,
contributions or lose control ):lose control
3.Method of shareholding or contributions reduction (Please specify the
date, reason, method, reduction percentage, volume, unit price, and total
amount each time):
(1)The Company, through its subsidiary L.E. Venture Co., Ltd., has
disposed of its 100% equity interest in Shanghai Les Enphants Children
Articles Co., Ltd.
(2)Transaction quantity: 100% equity interest in Shanghai Les Enphants
Children Articles Co., Ltd.
Total transaction amount:estimated RMB400,000,000, subject to necessary
adjustments in accordance with the terms stipulated in the signed transfer
agreement.
4.Method of loss of control(Please specify the date, reason, and method):
On September 10, 2025, the Board of Directors of the Company resolved to
approve the sale of equity in the investee company, Shanghai Les Enphants
Children Articles Co., Ltd.by its subsidiary L.E. Venture Co., Ltd. Upon
completion of the share transfer in the future, the Company will lose
control over the said entity.
5.Equity (or capital) recipient or counterparty (please list separately for
each transaction): Shanghai Hongantu Commercial Managment Co., Ltd.
6.Relationship with counterparty (Please specify the relationship with
counterparty each time): Not a related party of the Company
7.Gains (or losses) on disposal (Please specify the gains (or losses) on
disposal each time.If there is no gains (or losses), please fill in “NA”):
RMB 195,000,000~205,000,000
8.Cumulative reduction of shareholding in major subsidiaries, Article 7
paragraph 3 subsidiary deemed as the listed company, or a subsidiary of a
listed company applies for listing of securities in an overseas securities
market for trading so far (including the current transaction):100%
9.Shareholding in major subsidiaries, Article 7 paragraph 3 subsidiary
deemed as the listed company, or a subsidiary of a listed company applies
for listing of securities in an overseas securities market for trading at
present (including the current transaction):0%
10.Name of independent expert and his/her opinion on reasonableness of
pricing in each transaction: CPA Cheng Yun Ta. The transaction price is
considered reasonable.
11.Name of independent expert and his/her opinion on the impact of reduction
of shareholding or loss of control on the rights of the listed company's
shareholders: CPA Cheng Yun Ta. This equity disposal transaction does not
have any material adverse impact on the shareholders' equity of the
company.
12.Any effect on the ongoing listing of the parent company: None
13.Date of the audit committee resolution:2025/09/10
14.Details of audit committee resolution:The proposal was approved as
presented, with no objections raised after the Chairman consulted the
opinions of the attending committee members.
15.Date of the board of directors resolution:2025/09/10
16.Details of board of directors resolution:After consulting with the
Chairman and seeking the opinions of the attending directors and independent
directors, it was agreed to approve the motion as submitted.
17.Any other matters that need to be specified: None