1. Transaction Overview
Power New Energy Technology Co., Ltd. (hereinafter referred to as "the Company") intends to dispose of idle assets from its wholly-owned subsidiary, Power New (Inner Mongolia) Battery Co., Ltd. Through a special upgrade and transformation, most of the equipment has been effectively utilized. However, the remaining equipment does not have transformation value. To optimize the asset structure, improve operational efficiency, and alleviate cash flow pressure, the Company plans to dispose of these assets through public auction. This transaction does not constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies." The Company held the seventh meeting of the sixth board of directors on July 12, 2024, where the proposal for the disposal of idle assets was approved. According to the "Shenzhen Stock Exchange GEM Listing Rules (2024 Revision)" and the Company's Articles of Association, this disposal does not require submission to the shareholders' meeting for approval as it falls within the board's approval authority.
2. Basic Information of the Transaction Counterparty
The Company plans to dispose of the equipment that does not have transformation value and the remaining idle equipment through public auction. The counterparty for the transaction has not yet been determined, and the Company will fulfill its information disclosure obligations in a timely manner based on the public auction situation.