Guanghetong announced that the company plans to purchase 37.16% of Hangsheng Electronics' shares through a cash payment, and at the same time obtain a total of 51.40% voting rights of Hangsheng Electronics through a concerted action agreement to achieve control over it. This transaction constitutes a major asset restructuring. Recently, the company received the “Decision not to carry out further review of centralized anti-monopoly inspections by operators” issued by the State Administration of Market Supervision and Administration. No further review will be carried out on this acquisition case, and the company can implement centralization from now on. The transaction is subject to approval by the company's shareholders' meeting and other necessary relevant approvals or filings before it can be implemented.

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