Xiangshan Co., Ltd. announced that the company plans to purchase 100% of Zhejiang Wuluo Smart City Technology Co., Ltd.'s shares through the issuance of shares and cash payments, and raise supporting capital by issuing shares to no more than 35 specific investors. This transaction is not expected to constitute a major asset restructuring or related transaction. It will not lead to changes in the controlling shareholders and actual controllers of the company, and will not constitute a restructuring and listing. As of the date of disclosure of the announcement, the audit and evaluation work involved in this transaction had not been completed, all work was progressing in an orderly manner, and no matters had been discovered that could lead to the cancellation or suspension of the transaction or substantial changes to the plan. The transaction still needs to go through multiple approval procedures, and there is uncertainty about whether it will pass.

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