Juncheng Technology previously disclosed that it plans to acquire Jiangsu Xintongda shares in cash. The transaction is expected to constitute a major asset restructuring and related transaction. The announcement revealed that the company and the parties to the transaction signed the “Supplementary Agreement”, and the proposed acquisition targets were adjusted to 23203 million shares held by Xu Suozhang and 177.18,800 shares held by Xu Yimeng, totaling 2.0391 million shares, accounting for 44.5312% of Jiangsu Xintongda's total share capital as of the date the supplementary agreement was signed. The company agreed to pay an exclusive intention fee of RMB 9 million within 3 working days from the date the supplementary agreement was signed. The payment was offset against the transaction price the day after the date all delivery prerequisites were met or exempted in writing by the company; when the transaction was terminated or the original agreement was cancelled, the counterparty to the transaction shall fully refund the transaction price. The transaction is still in the planning stage. Due diligence, audit and evaluation have not yet been finalized, a formal agreement has not yet been signed, and decision-making and approval procedures are still required.

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