Announcement on Progress of Issuing Shares and Cash Payment for Asset Acquisition and Related Transactions
Beijing Baiana Qiancheng Film Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Basic Information of the Transaction
The Company intends to acquire 100% equity of Xiamen Zhonglian Century Co., Ltd. (hereinafter referred to as "Zhonglian Century") through the issuance of shares and cash payment, and to raise supporting funds (hereinafter referred to as "this transaction" or "this restructuring"). This transaction is expected to constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies." This transaction will not lead to a change in the actual controller of the Company and does not constitute a restructuring listing. According to the "Shenzhen Stock Exchange GEM Stock Listing Rules" and other relevant regulations, this transaction is expected to constitute a related party transaction.