FAP, May 25 (Xinhua)-- Wen's shares announced that the company held the 18th meeting of the fourth session of the board of directors on May 25, 2023. The motion on the transfer of part of the equity and related party transactions of the company's holding subsidiary was examined and passed, and the share transfer agreement was signed on the same day. In order to focus on the core business, concentrate superior resources to enhance the core business strength, and optimize the overall business structure, the company plans to transfer 35% of its holding subsidiary Guangdong Wen's Dairy Co., Ltd. (referred to as "Wen's Dairy") to the company's related party, Guangdong Yuncheng Investment Holdings Co., Ltd. (referred to as "Yuncheng Holdings"). After the completion of the transaction, the company's shareholding in Wen's Dairy was reduced from 64.57% to 29.57%.