Announcement
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
Key Content Reminder:
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Beijing HZST Technology Co., Ltd. (hereinafter referred to as "HZST" or "the Company") plans to publicly list and transfer its 65% equity in Shanghai Titan Communication Engineering Co., Ltd. (hereinafter referred to as "Shanghai Titan") on the Henan Property Rights Exchange.
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The transaction requires completion of the public listing procedures on the Henan Property Rights Exchange, and the outcome is uncertain.
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The transaction will be conducted through public listing and transfer. The transferee has not yet been confirmed, making it impossible to determine if it involves related party transactions. If the transferee determined through the public listing procedure is a related party of the Company, the Company will follow the procedures for related party transactions.
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The transaction does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies" and does not require approval from relevant authorities.
I. Overview of the Transaction
(I) Basic情况 of the Transaction
To further optimize the Company's asset structure, focus on its main business development, and enhance its profitability, the Company plans to publicly list and transfer its 65% equity in Shanghai Titan on the Henan Property Rights Exchange.
The initial listing price for this transaction is RMB 32.6821 million. In accordance with the relevant provisions of the "Measures for the Supervision and Administration of State-owned Assets Transactions," if the transfer floor price is less than 90% of the appraised value, the board of directors' review procedures must be re-performed. The Company's Board of Directors has authorized management to handle matters related to this public listing and transfer of equity within the aforementioned price range, including but not limited to implementing this public listing and transfer plan, signing the equity transfer agreement, and handling the transfer procedures.
(II) Approval Procedures
The sixth session of the second extraordinary board meeting of the Company held on August 3, 2026, reviewed and approved the "Proposal on Public Listing and Transfer of 65% Equity in Shanghai Titan Communication Engineering Co., Ltd." with 7 votes in favor, 0 abstentions, 0 against, and 0 invalid votes. According to the "Shenzhen Stock Exchange Stock Listing Rules" and the "Company Articles of Association," this equity transfer does not require shareholder approval.
(III) Whether it Constitutes a Major Asset Restructuring
This transaction does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies" and does not require approval from relevant authorities.
II. Basic Information of the Counterparty
As this equity transfer adopts the public listing method to solicit potential transferees, the counterparty cannot be determined at this time. The Company will disclose relevant information based on the progress of the transfer.