Youon Technology (603776.SH) is planning to issue new shares to acquire 65% equity of Shanghai Lianshi. Trading of stocks and bonds will be suspended starting from November 21st.

Youon Technology (603776.SH) announced that the company is planning to acquire 65% of the equity of Shanghai Lianshi Navigation Technology Co., Ltd. (referred to as "Shanghai Lianshi") by issuing shares and paying cash. According to the relevant regulations of the "Administrative Measures for Major Asset Restructuring of Listed Companies", this transaction constitutes a major asset restructuring, does not constitute a backdoor listing, and will not result in a change in the company's actual controller. It also constitutes a related party transaction. Upon application to the Shanghai Stock Exchange, the trading of the company's stocks, convertible bond bonds, and convertible bond convertibles will be suspended from the opening of the market on November 21, 2024 (Thursday), and is expected to resume within 10 trading days.