Guanghetong announced that the company purchased 37.16% of Hangsheng Electronics' shares through cash payments at a transaction price of 1,428 billion yuan. After the transaction was completed, the company and co-actors held a total of 51.40% of Hangsheng Electronics' shares, and Hangsheng Electronics became the company's holding subsidiary. This transaction constitutes a major asset restructuring and does not constitute a related transaction or restructuring listing. Up to now, the underlying shares have been transferred, and the company has paid 20% of the transaction consideration totaling 286 million yuan. The remaining price will be paid as agreed, the target company has completed the re-election of directors and supervisors, and the relevant agreements and commitments have been implemented normally, and there are no substantial legal barriers to handling follow-up matters.

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