7-Board Shangwei New Materials: There are still certain uncertainties in the share transfer transaction

On July 17th, Shangwei New Materials issued an announcement of serious abnormal fluctuations in stock transactions. The company's stock trading has reached a cumulative deviation of 200% in the closing price of the day within 30 consecutive trading days. The company has checked itself and verified with the controlling shareholder. As of the disclosure date of this announcement, in addition to the information disclosed by the company, the company and the company's controlling shareholder SWANCORIND.CO., LTD. (Samoa) do not have any material information that should be disclosed but has not been disclosed. After the completion of the share transfer, Zhiyuan Hengyue and Zhiyuan Xinchuang Partnership will together own 29.99% of the shares of the listed company and the corresponding voting rights of such shares. The share transfer transaction still needs to be reviewed and approved by the shareholders' meeting of the listed company, as well as other approvals that may be involved in relevant laws and regulations, and it needs to obtain the compliance confirmation opinion of the Shanghai Stock Exchange and go through the share transfer registration procedures in the Shanghai Branch of Zhongdeng Company. There is still some uncertainty as to whether the relevant approval procedures can be passed and the time of passing. There is still uncertainty as to whether the transfer of this share agreement can be finally completed.