Lion Head Co., Ltd. announced that the company plans to purchase 97.4399% of Hangzhou Lipo Technology's shares held by 14 counterparties, including Wang Xu, Longqi and Deng Haoyu, and raise supporting capital by issuing shares and paying cash. Recently, the company received a letter of implementation of the opinions of the Audit Center issued by the Shanghai Stock Exchange, requesting the timely submission of a restructuring report. The company and relevant intermediaries will submit documents as required. The transaction has yet to be reviewed and approved by the Shanghai Stock Exchange and registered by the Securities Regulatory Commission. It is uncertain whether it will be approved or when.

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