Stock Code: 000621
Stock Abbreviation: *ST Bit
Announcement Number: 2004-023
Bit Technology Holdings Co., Ltd.
Announcement on Related Transactions of Debt Restructuring
The company and all members of the board guarantee that the content of this announcement is true, accurate, and complete, and bear responsibility for any false records, misleading statements, or significant omissions in the announcement.
I. Overview of Related Transactions
To resolve historical issues of Bit Technology Holdings Co., Ltd. (hereinafter referred to as "the Company" or "Bit Technology"), escape from difficulties, avoid delisting, and protect the interests of small and medium investors, the three parties involved in this transaction: Bit Technology, Ningbo Huaneng Leasing Co., Ltd. (hereinafter referred to as "Ningbo Huaneng"), and Guangsha Construction Group Co., Ltd. (hereinafter referred to as "Guangsha Group") have agreed through friendly consultation to divest Bit Technology's relevant poor-quality assets and liabilities. On April 21, 2004, in Shanghai, they signed the "Debt Restructuring Agreement of Bit Technology Holdings Co., Ltd." (hereinafter referred to as "this Agreement").