Group 1 - The controlling shareholder of Baota Industrial Co., Ltd. will change from Ningxia State-owned Capital Operation Group Co., Ltd. to Ningxia Electric Power Investment Group Co., Ltd. This transfer will not change the actual controller of the company, which remains the People's Government of Ningxia Hui Autonomous Region [1][2] - The share transfer involves 206,896,551 A-shares, accounting for 18.17% of Baota Industrial's total share capital [1][2] - The shareholding structure before and after the transfer shows that Ningxia State-owned Capital will hold 127,103,449 shares (11.16%) after the transfer, while Ningxia Electric Power Investment Group will hold 206,896,551 shares (18.17%) [2][3] Group 2 - Ningxia State-owned Capital Operation Group is a wholly state-owned limited liability company with a registered capital of 3 billion RMB, focusing on investment and related businesses [3] - Ningxia Electric Power Investment Group is also a wholly state-owned limited liability company with a registered capital of approximately 2.24 billion RMB, primarily engaged in investment and operation in the electric power sector [3] - The share transfer is categorized as an internal transfer among state-owned enterprises and is exempt from the requirement to issue a public offer under the relevant regulations [3][4]

Core Viewpoint - *ST Baoshi (000595.SZ) announced a plan for the transfer of shares from its controlling shareholder Ning Guoyun to the State Power Investment Corporation, aimed at optimizing resource allocation and advancing the new energy system construction [1] Group 1 - The share transfer involves 206,896,551 A-shares, representing 18.17% of the total share capital of Baota Industrial [1] - The share transfer is still pending approval and has not yet completed all decision-making procedures or signed relevant agreements [1] - If approved, the direct controlling shareholder will change from Ning Guoyun to the State Power Investment Corporation, but the actual controller will remain the Ningxia Hui Autonomous Region People's Government [1]

Core Viewpoint - The company *ST Baoshi (000595) announced that its controlling shareholder, Ning Guoyun, plans to transfer 207 million A-shares (18.17% of the total share capital) to Ningxia Electric Power Investment Group Co., Ltd. for free, aiming to further integrate the energy sector and promote the construction of a new energy system [1] Group 1 - The share transfer is part of a strategy to consolidate the energy sector under Ning Guoyun [1] - If approved, the controlling shareholder will change from Ning Guoyun to Ningxia Electric Power Investment Group [1]