December 29，Lingnan Holdings announced，Based on the fact that the company’s controlling shareholders Lingnan Group and Guangzhou Commercial Control plan to implement joint reorganization，The Guangzhou Municipal People's Government will transfer 90% of its equity in Lingnan Group to Guangzhou Commercial Holdings for free。

This free transfer of state-owned equity will not result in a change 188bet sports betting app download in the company’s direct controlling shareholder，It will not lead to changes in the actual controller of the company。After the completion of the free transfer of state-owned equity，The company’s direct controlling shareholder is still Lingnan Group，The actual controller is still Guangzhou State-owned Assets Supervision and Administration Commission，Guangzhou Commercial Holdings will hold 90% of the equity of Lingnan Group，Become an indirect controlling shareholder of the company。

Before the free transfer of state-owned equity，The equity structure diagram of the company, its controlling shareholders and actual controllers is as follows:

After the free transfer of state-owned equity，Guangzhou Commercial Holdings will hold 90% of the shares of Lingnan Group，The number and proportion of shares held by Lingnan Group in the company have not changed。The equity structure diagram of the company, its controlling shareholders and actual controllers is as follows: