Why does Xinxiang Finance Bureau want to transfer equity?

In order to make Xinxiang state-owned assets become the controlling shareholder of Egret Group.

Xinxiang Municipal Finance Bureau transferred 90% equity of Xinxiang Bailu Investment Group Co., Ltd. (referred to as "Bailu Group") to Xinxiang State-owned Capital Operation Group Co., Ltd. (referred to as "Xinxiang State-owned Assets") through free transfer of state-owned equity. After the transfer, Xinxiang State-owned Assets became the controlling shareholder of Egret Group, and indirectly held 30. 17% of the shares of the company through Egret Group.