Ruili Science announced that 16% of the shares of Wuhan Ruilikedes Automotive Electronics Co., Ltd. held by Mr. Cheng Yi have been transferred and registered under the company's name, and the target company has completed the registration procedure for the change. The transaction still requires the company to issue shares to the counterparty to pay consideration for the transaction, and to go through registration and listing procedures related to additional shares, as well as registration or filing procedures for changes in registered capital and the “Articles of Association”. In addition, the parties concerned also need to determine the profit and loss generated by the underlying assets during the transition period and implement the agreement on the attribution of profit and loss during the transition period.

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