The board of directors of MAJESTIC DRAGON (00918) has received a notification from Always Profit Development Limited, which is wholly-owned by the company's controlling shareholder, Mr. Zhang Jinbing, who holds 527 million shares representing approximately 47.32% of the company's issued share capital. The notification states that the potential seller has entered into a non-legally binding letter of intent concerning the potential sale of a certain number of its shares in the company with Beijing Qichen Investment Management Co., Ltd., a venture capital management company registered and established in 2019 with the Asset Management Association of China, or with other buyers introduced by the potential buyer. The indicative price for each sale share is approximately HK$0.5475. Lianjie Qichen Capital is headquartered in Beijing and maintains teams in Shanghai and Hangzhou; its investment portfolio is concentrated in advanced manufacturing, commercial aerospace, advanced materials, and other sectors. The firm manages 29 RMB-denominated funds, and its portfolio includes numerous top-tier funds and hundreds of high-growth projects, of which approximately 20 have achieved public listings. It collaborates with local governments across the country to promote industrial incubation and cluster development through an "industry + innovation + investment" model. The sale of the shares and the actual number of shares to be sold are contingent upon, among other factors, the completion of due diligence by the potential buyer, the execution of a formal share purchase agreement by the respective parties, and obtaining the necessary regulatory approvals. With the exception of terms concerning exclusivity, confidentiality, costs and expenses, termination, and governing law, the letter of intent is not legally binding. The exclusivity period stipulated in the letter of intent is set to expire on July 31, 2026.