Progress Report on Share Issuance, Cash Purchase of Assets, and Fundraising for Connected Transactions, and Special Explanation Regarding Failure to Issue Notice of Shareholders' Meeting
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Special Notes:
-
On February 4, 2026, Kailong High-Tech Co., Ltd. (hereinafter referred to as the "Company") disclosed the "Proposal for Issuing Shares and Paying Cash to Purchase Assets and Raising Supporting Funds and Connected Transactions" (hereinafter referred to as the "Transaction Proposal") and its summary, which detailed the risk factors involved in this transaction and the approval procedures still required. Investors are advised to pay attention to investment risks.
-
Since the disclosure of the Transaction Proposal, work related to the audit, valuation, and due diligence of the target company has been carried out in an orderly manner. As the preliminary benchmark date for the target company's financial data was set as December 31, 2025, which exceeds the six-month validity period, the relevant intermediary agencies need to conduct interim audits and supplementary due diligence on the target company. Due to the failure of the intermediary agencies to complete the relevant procedures before August 3, 2026, the Company is unable to issue a notice of the shareholders' meeting within six months from the date of disclosure of the first resolution of the board of directors approving this transaction. After negotiation with all parties to the transaction, it is proposed to terminate this planned major asset restructuring and connected transaction.