Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-12 00:39Overview of the Transaction - Zhejiang Busen Fashion Co., Ltd. plans to sell 35% of Shaanxi Busen Fashion Co., Ltd. to Nantong Erfangji Co., Ltd. for cash, without issuing shares, and this transaction does not constitute a related party transaction [2][3] - The transaction is expected to be classified as a major asset restructuring under the regulations, but it will not involve share issuance or result in a change of control [2][3] - The transaction is still in the planning stage, with key elements such as transaction scheme and price needing further verification and negotiation [2][3] Progress of the Transaction - The company has disclosed announcements regarding the asset sale and major asset restructuring on September 8 and October 9, 2025 [4] - As of the announcement date, auditing, evaluation, and due diligence are ongoing, and formal transaction documents have not yet been signed [4] - After completing the necessary evaluations and negotiations, the company will convene a board meeting to review the transaction proposals and fulfill subsequent legal and disclosure obligations [4]