Announcement No. 2 of 2026, Investment Management Committee
Announcement date: June 9, 2026
Hongxiang Shangdao (Nanjing) Technology Development Co., Ltd. (the Company) announces the completion of its divestment from Nanjing Linxi Zhijue Technology Co., Ltd. This disclosure forms part of the Company's investment management and its commitment to accurate, complete information.
1. Overview of the divestment
The Company previously invested its own funds in Nanjing Linxi Zhijue Technology Co., Ltd. (the Investee) to support its strategic plans and business cooperation, holding a 10% equity interest.
Following a review of resource allocation, business cooperation and future operating plans, the Company has completed the divestment as part of a change in business priorities and strategic direction.
As of this announcement, the equity transfer and associated business registration changes have been completed. The Company no longer holds an equity interest in the Investee and will no longer participate in its operations, major decisions or post-investment management.
2. Reasons for the divestment
The divestment is a considered decision reflecting the Company's current operating plans and revised business priorities.
Changes in business direction, resource priorities and development plans meant that the minority investment no longer fully aligned with the Company's current strategy or cooperation needs. Following an internal review, the Company completed the divestment to focus on its core business, improve resource efficiency and optimize its investment portfolio.
This divestment does not constitute a negative assessment of the Investee's capabilities, prospects or team, or of any other party.
3. Impact on the Company
The divestment is part of normal business management and portfolio adjustment. It is not expected to have a material adverse effect on the Company's daily operations, financial position or ability to continue operating.
The Company will continue to pursue prudent investment, sound operations and focused resource allocation, refining its portfolio and business structure around its core business and long-term objectives.
4. Completion status
As of this announcement, the relevant agreements have been signed, the transfer of rights and obligations has been completed, and the business registration changes have been finalized.
Following completion of the registration changes, the Company is no longer a shareholder of Nanjing Linxi Zhijue Technology Co., Ltd. and no longer holds or assumes shareholder rights or obligations. Any responsibilities relating to historical matters remain subject to applicable law and the relevant agreements.
5. Additional information
The Company makes this disclosure based on the information available and confirms that it is true, accurate and complete, with no false statements, misleading representations or material omissions.
This announcement does not constitute investment advice, a promise of returns or a commercial assessment of any party.
This announcement takes effect on its publication date.
Hongxiang Shangdao (Nanjing) Technology Development Co., Ltd.
June 9, 2026
