Board of Directors of Vision China Information Technology Co., Ltd.
Statement on Whether the Transaction Constitutes a Major Asset Reorganization, Related Party Transaction, and Restructuring and Listing
Vision China Information Technology Co., Ltd. (hereinafter referred to as the "Company") intends to acquire 90.02% of the equity of Chengdu Xinchao Media Group Co., Ltd. (hereinafter referred to as the "Target Company") held by Zhang Jixue, Chongqing Jingdong Ha Jia E-commerce Co., Ltd., Baidu Online Network Technology (Beijing) Co., Ltd., and 45 other transaction counterparties (hereinafter referred to as the "Target Assets" and "This Transaction" respectively) by issuing shares and paying cash.
I. This Transaction Constitutes a Major Asset Reorganization