XXF outlines ownership breakdown of remaining 48.75% stake in lessor under sale-and-leaseback deal

Bulletin Express

Jul 14

XXF Group Holdings Limited (XXF) issued a supplemental announcement on 14 July 2026, providing additional details on the equity structure of the lessor involved in the sale-and-leaseback agreement first announced on 9 July 2026.

The company confirmed that the outstanding 48.75% equity interest in the lessor is allocated as follows: • 21.25% held by Jiangsu Phoenix Publishing and Media Group Co., Ltd. • 10.63% held by Jiangsu Xinhua Daily Media Group Co., Ltd. • 10.00% held by Jiangsu Coastal Development Group Co., Ltd. • 6.88% held by Jiangsu Broadcasting Cable Information Network Corporation Limited, a Shanghai-listed entity (stock code 600959).

Jiangsu Phoenix, Jiangsu Xinhua and Jiangsu Coastal are each wholly owned by the Jiangsu Provincial People’s Government, confirming state ownership behind the bulk of the minority stake.

XXF stated that all other terms and disclosures in the 9 July 2026 announcement regarding the sale-and-leaseback agreement remain unchanged. The supplemental information was approved by the board, chaired by Mr. Huang Wei.

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