Shenzhen G&W Wireless Co., Ltd. Board of Directors
Statement on the Transaction Constituting a Major Asset Restructuring and Not Constituting a Restructuring and Listing under Article 13 of the Administrative Measures for Major Asset Restructuring of Listed Companies
Shenzhen G&W Wireless Co., Ltd. (hereinafter referred to as "the Company") proposes to acquire 37.16% of the equity of Shenzhen H&S Electronics Co., Ltd. (hereinafter referred to as "the Target Company" or "H&S Electronics") by paying cash. Simultaneously, through an acting-in-concert agreement, the Company will achieve control over the Target Company (hereinafter referred to as "the Transaction"). Upon completion of the Transaction, H&S Electronics will become a controlling subsidiary of the Company.