Announcement Overview
Xinhaiyi Technology Group Co., Ltd. (hereinafter referred to as "the Company" or "Xinhaiyi") currently holds an indirect 92.14% equity stake in Suzhou Xinna Crystal Optoelectronics Co., Ltd. (hereinafter referred to as "Xinna Crystal"). The Company intends to sell its entire indirect stake in Xinna Crystal to further focus on its core business, reduce company debt and financial expenses, and optimize resource allocation. It is expected that after the transaction is completed, the Company will no longer hold any equity in Xinna Crystal. The Company is currently in discussions with potential buyers, and the specific transaction plan has yet to be determined. Upon completion of this transaction, it is anticipated that the buyer will become the controlling shareholder of Xinna Crystal.
On January 31, 2024, the Company held the 17th meeting of the 8th Board of Directors, where the proposal regarding the transfer of equity in Suzhou Xinna Crystal Optoelectronics Co., Ltd. was reviewed and approved. The Company will expedite the relevant work and will fulfill the necessary review procedures based on the transaction plan discussed with the buyer, as well as timely fulfill its information disclosure obligations. This transaction does not constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies," nor does it constitute a related party transaction.