Hanbang Hi-Tech announced that the company plans to issue shares to purchase 51% of Anhui Yilu Weixing Technology Co., Ltd. and raise supporting capital by issuing shares of Beijing Zhiyun Zero Technology Co., Ltd., which is wholly-owned by actual controller Li Ning. This transaction is expected to constitute a major asset restructuring and related transaction, not a restructuring and listing. As of the disclosure date of the announcement, due to the expiration of the financial data of the target company, relevant intermediaries are carrying out additional audits, evaluations and supplementary due diligence work on the target company. Currently, the relevant work is nearing completion. The transaction still needs to be reviewed and approved by the company's board of directors and shareholders' meeting, and can only be implemented after being reviewed by the Shenzhen Stock Exchange and registered by the Securities Regulatory Commission. There is uncertainty about whether and when it will be approved.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.