CONCH VENTURE (00586) announced that the company recently received notification from executive director Mr. Wang Xuesen regarding a share transfer transaction. Due to family property distribution arrangements, Mr. Wang Xuesen has transferred 1.88 million company shares to his daughter as a gift (Wang Xuesen previously held 2.1979 million shares before this transfer). Following the aforementioned transaction, Mr. Wang Xuesen will continue to hold 317,900 shares. Mr. Wang Xuesen emphasized that the above transfer is solely part of his personal family property distribution arrangements. Mr. Wang Xuesen expressed full confidence in the company's future business development and will continue to contribute to the company's sustained and healthy growth.