Shenzhen Guanghetong Wireless Co., Ltd. Board of Directors
Statement on Compliance with Article 18 of the Continuous Supervision Measures for GEM Companies and Article 8 of the Shenzhen Stock Exchange Major Asset Reorganization Review Rules
Shenzhen Guanghetong Wireless Co., Ltd. (hereinafter referred to as the "Company") proposes to acquire 37.16% of the shares of Shenzhen Honsheng Electronics Co., Ltd. (hereinafter referred to as the "Target Company" or "Honsheng Electronics") by way of cash payment, and to control the Target Company through an acting-in-concert agreement (hereinafter referred to as the "Transaction"). Upon completion of the Transaction, Honsheng Electronics will become a controlling subsidiary of the Company.
The Company's Board of Directors has prudently analyzed whether the Transaction complies with Article 18 of the "Continuous Supervision Measures for GEM Companies (Trial)" (hereinafter referred to as the "GEM Continuous Supervision Measures") and Article 8 of the "Shenzhen Stock Exchange Major Asset Reorganization Review Rules" (hereinafter referred to as the "Reorganization Review Rules"). The Board of Directors believes that the Transaction complies with Article 18 of the "GEM Continuous Supervision Measures" and Article 8 of the "Reorganization Review Rules", as detailed below: