Securities Code: 300912
Securities Abbreviation: Kailong High-Tech
Announcement Number: 2026-062
Kailong High-Tech Co., Ltd.
Announcement on Termination of Issuing Shares and Paying Cash to Purchase Assets, Raising Supporting Funds, and Connected Transactions
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and have no false records, misleading statements, or major omissions.
Kailong High-Tech Co., Ltd. (hereinafter referred to as the "Company") held its second meeting of the fifth Board of Directors on August 7, 2026, and reviewed and approved the "Proposal on Terminating the Issuance of Shares and Payment of Cash to Purchase Assets and Raising Supporting Funds and Connected Transactions." The Company agreed to terminate this major asset restructuring and connected transaction matter. The relevant situation regarding the termination is hereby announced as follows:
I. Basic Situation of the Major Asset Restructuring
The Company planned to purchase a 70% equity interest in Shenzhen Jinwangda Electromechanical Co., Ltd. by issuing shares and paying cash, and to raise supporting funds (hereinafter referred to as the "Transaction"). The Transaction constituted a connected transaction and was expected to constitute a major asset restructuring, but not a restructuring for backdoor listing.
II. Work Done by the Company in Advancing the Major Asset Restructuring
Since planning the major asset restructuring, the Company has actively promoted all aspects of the Transaction. It has repeatedly negotiated, deliberated, and refined the specific transaction plan with the counterparty. During the Transaction, the Company fulfilled its information disclosure obligations in a timely manner in accordance with relevant regulations. In the "Kailong High-Tech Co., Ltd. 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, and progress announcements, relevant risks were fully disclosed. At the same time, the Company actively fulfilled its information confidentiality obligations and strictly controlled the scope of insiders. The main process of the Transaction is as follows: