Hai Chang New Materials: Intends to Acquire 51% Equity of Xintong Communication Technology.

Hai Chang New Materials announcement, the company has signed an equity acquisition intention agreement with Wu Wenping and Lu Linsheng, intending to acquire 51% equity of Shenzhen Xintech Communication Technology Co., Ltd. in cash. The transaction price will be negotiated on the basis of the final audit assessment value. The target company specializes in core components of GNSS antenna positioning field, widely used in drones, smart lawn mowers, precision agriculture and other fields. This acquisition aims to enhance the company's core competitiveness and promote diversified industrial layout. The intention agreement is a framework agreement, the formal acquisition agreement has not been signed yet, and there is uncertainty as to whether the transaction will be completed.