Guangdong Piano Scientific Home Furnishings Co., Ltd.
Announcement on Signing a Conditional Share Subscription Agreement with a Specific Target and Related Party Transaction
The company and all members of the board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Key Information Prompt:
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Guangdong Piano Scientific Home Furnishings Co., Ltd. (hereinafter referred to as the "Company" or "Piano") plans to issue shares to Hangzhou Chuxin Micro Technology Partnership (Limited Partnership) (hereinafter referred to as "Chuxin Micro") (hereinafter referred to as the "Current Issuance"). Given that the Company has adjusted the issuance plan for the Current Issuance, the Company and Chuxin Micro have signed a "Conditional Share Subscription Agreement." Chuxin Micro intends to subscribe for all of the Company's A-shares to be issued to specific targets in 2025 with cash, with a subscription amount not exceeding RMB 394,506,107.10 (including the principal amount) and a subscription quantity not exceeding 34,514,970 shares (including the principal amount). This matter constitutes a related party transaction. The Company signed a "Conditional Share Subscription Agreement" with Qingdao Chuxin Co-creation Technology Co., Ltd. on December 15, 2025, and signed a "Termination Agreement for the Conditional Share Subscription Agreement" with Qingdao Chuxin Co-creation Technology Co., Ltd. on July 24, 2026. The termination agreement takes effect from the date of signing.
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On July 24, 2026, the Company held the fourth meeting of the fifth board of directors, which reviewed the "Proposal on the Revised Plan for the Issuance of A-shares to Specific Targets in 2025" and the "Proposal on Signing a Conditional Share Subscription Agreement with a Specific Target and Related Party Transaction," among other proposals related to the current issuance of A-shares to specific targets (hereinafter referred to as the "Current Issuance").
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In accordance with the relevant provisions of the "Shenzhen Stock Exchange Stock Listing Rules," the current transaction constitutes a related party transaction but does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies."
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This related party transaction is subject to approval by the Company's shareholders' meeting, and related shareholders with interests in this related party transaction will abstain from voting at the shareholders' meeting.
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The revised content of this issuance of shares to specific targets is subject to approval by the Company's shareholders' meeting, review by the Shenzhen Stock Exchange, and registration approval by the China Securities Regulatory Commission before it can be implemented. There is uncertainty as to whether the issuance of shares to specific targets will obtain the relevant approvals or licenses, and the time of obtaining such approvals or licenses. Investors are kindly reminded to pay attention to investment risks.