Hangzhou Chang Chuan Technology Co.Ltd(300604) board of directors
Explanation on the compliance of this transaction with Article 4 of the provisions on Several Issues concerning the regulation of major asset restructuring of listed companies
Hangzhou Chang Chuan Technology Co.Ltd(300604) (hereinafter referred to as ” Hangzhou Chang Chuan Technology Co.Ltd(300604) ” or “the company”) intends to acquire Hangzhou paradise Silicon Valley Hangshi equity investment partnership (limited partnership) (hereinafter referred to as “Paradise Silicon Valley Hangshi”) and Jinggangshan Le orange equity investment partnership (limited partnership) (hereinafter referred to as “Jinggangshan Le orange”) by issuing shares Lee Heng Lee holds 97.6687% equity of Hangzhou Changyi Technology Co., Ltd. (hereinafter referred to as “Changyi technology”) and raises supporting funds (hereinafter referred to as “this transaction”). The board of directors of the company made a prudent judgment on whether the company’s transaction complies with the provisions of Article 4 of the provisions on Several Issues concerning the regulation of major asset restructuring of listed companies, and held that:
1. The underlying asset of this transaction is 97.6687% equity of Changyi technology, which does not involve project approval, environmental protection, industry access, land use, planning, construction and other related matters. The progress of reporting for approval by relevant competent authorities involved in this transaction and the procedures to be submitted for approval have been disclosed in the plan for issuing shares to purchase assets and raising supporting funds and related party transactions of Hangzhou Hangzhou Chang Chuan Technology Co.Ltd(300604) Co., Ltd., and special tips have been given on the risks that may not be approved.
2. The underlying assets of this transaction are 97.6687% equity of Changyi technology held by counterparties paradise Silicon Valley Hangshi, Jinggangshan Le orange and Lee Heng Lee, Except that Changyi technology is going through the industrial and commercial change registration procedures for Lee Heng Lee’s subscription of 39.4749 million yuan of Changyi technology’s new registered capital and the change registration procedures for Lee Heng Lee’s equity assets used for this contribution to Changyi technology’s name, the counterparty legally owns the full right of the underlying assets, There is no false capital contribution or affecting its legal existence, no commitment or arrangement prohibiting or restricting the transfer of such shares, and no restriction or prohibition on the transfer of the underlying assets.
3. After the completion of this transaction, the company will legally own the target assets and can actually control the production and operation of the target company. This transaction will not affect the independence of the company in business, assets, finance, personnel, institutions, etc. 4. This transaction is conducive to enhance the company’s sustainable profitability, consolidate the development of the company’s main business, expand the company’s business scale, and will not affect the company’s independence. There are no new related party transactions and horizontal competition. In conclusion, the board of Directors believes that this transaction complies with the relevant provisions of Article 4 of the provisions on Several Issues concerning the regulation of major asset restructuring of listed companies.
It is hereby explained. (no text below)
(there is no text on this page, which is the seal page of the Hangzhou Chang Chuan Technology Co.Ltd(300604) board of directors’ explanation on the compliance of this transaction with the provisions of Article 4 of the provisions on Several Issues concerning the regulation of major asset restructuring of listed companies) Hangzhou Chang Chuan Technology Co.Ltd(300604) board of directors on January 21, 2022
