The company and all members of the board guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Transaction Overview
To streamline the company structure and reduce management costs, the company's 7th Board of Directors approved the transfer of 100% equity of Tianjin Demian Mining Co., Ltd. (hereinafter referred to as "Tianjin Demian"), 51% equity of Beijing Shengtong Hengan Technology Co., Ltd. (hereinafter referred to as "Shengtong Hengan"), and 100% equity of Shenzhen Baoyufeng Technology Co., Ltd. (hereinafter referred to as "Baoyufeng") to Beijing Qianyuan Hongsheng Enterprise Consulting Co., Ltd. The transfer price for all equity transfers is 0 yuan. For details, please refer to the relevant announcement disclosed on December 19, 2019, on the Giant Tide Information Network.