Shenzhen Fast-Trans Wireless Communication Co., Ltd. Board of Directors
Statement on the Completeness and Compliance of Procedures for the Major Restructuring and the Validity of Submitted Legal Documents
Shenzhen Fast-Trans Wireless Communication Co., Ltd. (hereinafter referred to as "the Company") intends to acquire 37.16% of the shares of Shenzhen Hoshine Electronics Co., Ltd. (hereinafter referred to as "the Target Company" or "Hoshine Electronics") by paying cash, and to control the Target Company through an acting-in-concert agreement (hereinafter referred to as "this Transaction"). Upon completion of this Transaction, Hoshine Electronics will become a controlling subsidiary of the Company.
In accordance with the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Administrative Measures for Major Asset Restructuring of Listed Companies," "Supervisory Guidelines for Listed Companies No. 9 – Regulatory Requirements for Listed Companies in Planning and Implementing Major Asset Restructuring," and other relevant laws, regulations, normative documents, and the "Articles of Association," the Company's Board of Directors has diligently reviewed the completeness and compliance of the legal procedures for this Transaction and the validity of the submitted legal documents, and provides the following explanation:
I. Statement on the Completeness and Compliance of Procedures for this Transaction