Securities Code: 002396
Securities Abbreviation: Star-Net Communication
Announcement No.: Lin 2026-35
Fujian Star-Net Communication Co., Ltd.
Progress Announcement on Wholly-Owned Subsidiary's External Investment
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the announcement's content, and that it contains no false representations, misleading statements, or significant omissions.
I. Overview of External Investment
Fujian Star-Net Communication Co., Ltd. (hereinafter referred to as the "Company," "this Company," or "Star-Net Communication") held the 24th meeting of the Sixth Board of Directors on September 22, 2023. The meeting deliberated and approved the "Proposal on Wholly-Owned Subsidiary's External Investment." It was agreed that the wholly-owned subsidiary, Fujian Star-Net Vision Information System Co., Ltd. (hereinafter referred to as "Star-Net Vision"), would use its own funds of RMB 30 million to increase capital in Sonoco (Beijing) Technology Co., Ltd. (hereinafter referred to as "Target Company" or "Sonoco" or "Promisor") by RMB 15 million in registered capital. After this investment, Star-Net Vision will hold a 23.08% equity stake in the Target Company. On September 25, 2023, Star-Net Vision, along with the Target Company's shareholders Beijing Oriental Zhongyuan Technology Development Co., Ltd. (hereinafter referred to as "Oriental Zhongyuan"), Xinyu Sonoco Enterprise Management Center (Limited Partnership) (hereinafter referred to as "Xinyu Sonoco"), Zhou Jianghong, Zhu Zhunzhun, Liu Chunghui, and Li Zhi, jointly signed the "Investment Agreement Regarding Sonoco (Beijing) Technology Co., Ltd." (hereinafter referred to as the "Investment Agreement"), which stipulated performance commitments and compensation clauses. For detailed content, please refer to the "Announcement on Wholly-Owned Subsidiary's External Investment" (Announcement No.: Lin 2023-67) disclosed by the Company on September 23, 2023, on the designated information disclosure media: Securities Times, China Securities Journal, Securities Daily, Shanghai Securities News, and Juchao Information Network.