NANJING PANDA (00553) announced that on August 15, 2025, the company and other ENC sellers (collectively "the Sellers") put up a 49% stake in ENC (49% ENC Interest) for public tender at the Shanghai United Assets and Equity Exchange, with an initial bidding price of approximately RMB 516.5 million. Due to no qualified bidders appearing during the first public announcement period, a second public tender commenced on September 15, 2025, with the reserve price for the 49% ENC Interest reduced to RMB 465 million. On September 26, 2025, the company received notification from the Shanghai United Assets and Equity Exchange confirming Ericsson (China) Limited (Ericsson China) as the successful bidder in the public tender. The final transaction price for the 49% ENC Interest was confirmed at RMB 465 million, of which the company is entitled to receive approximately RMB 256 million for the sale of its 27% stake in ENC. On September 29, 2025, the Sellers and Ericsson China entered into a property rights transaction contract for the purchase and sale of the 49% ENC Interest. According to the conditions of the Sellers' public tender published by the Shanghai United Assets and Equity Exchange, Ericsson China has paid a deposit of RMB 93 million to the Shanghai United Assets and Equity Exchange, representing 20% of the total consideration. Under the property rights transaction contract, this deposit will be directly applied toward the total consideration for acquiring the 49% ENC Interest. The remaining consideration of RMB 372 million will be remitted by Ericsson China to the designated account of the Shanghai United Assets and Equity Exchange within five working days from the effective date of the property rights transaction contract.