Jiangsu Wuyang Automation Control Technology's subsidiary plans to acquire shares of Jisheng Fund partnership to continue project incubation.

Announcement from Jiangsu Wuyang Automation Control Technology (300420.SZ): The company's wholly-owned subsidiary, Jiangsu Tianwo Heavy Industry Technology Co., Ltd. (referred to as "Tianwo Heavy Industry"), plans to acquire 29.88% of the limited partnership interests of Xuzhou Jiesheng Wuyang Intelligent Equipment Industrial Fund Limited Partnership (referred to as "Jiesheng Fund") held by Jiangsu Xuzhou Old Industrial Base Industrial Development Fund (Limited Partnership) (referred to as "Old Industrial Fund"), and 9.96% of the limited partnership interests held by Xuzhou High-tech Industrial Development Zone Entrepreneurship Development Co., Ltd. (referred to as "Xuzhou High-tech Development") in the Jiesheng Fund, with a total transaction amount of RMB 87.08 million. At the same time, Tianwo Heavy Industry plans to acquire 59.76% of the partnership interests held by the company in the Jiesheng Fund. The company's controlling subsidiary, Shenzhen Qianhai Hongyi Huahao Investment Co., Ltd. (referred to as "Hongyi Huahao"), plans to acquire 0.2% of the ordinary partnership interests in the Jiesheng Fund held by Jiangsu Shengshiguo Gold Investment Management Co., Ltd. (referred to as "Shengshiguo Gold") with a transaction amount of RMB 55.07 million. After the completion of the transaction, the limited partners of the Jiesheng Fund, Old Industrial Fund, Xuzhou High-tech Development, Jiangsu Wuyang Automation Control Technology, and the general partner Shengshiguo Gold will exit. After Shengshiguo Gold exits, it will continue to handle the deregistration procedures of the Jiesheng Fund with the China Securities Investment Fund Industry Association. After deregistration, it will no longer be listed as a fund product of the Association and will continue to exist as a limited partnership. The announcement stated that the investment projects of the Jiesheng Fund include equity of the company's key subsidiaries, which has enabled the company to enter into the operation and management of commercial parking lots, extending its business from upstream manufacturing to downstream service industry. Considering that the Jiesheng Fund is about to exit, based on the company's proposed "investment + construction + operation" business model, relying on equipment manufacturing advantages, the company aims to become an integrated service provider for investment, construction, and operation of smart city parking. In order to continue to nurture projects and share growth dividends, the company's wholly-owned subsidiary plans to acquire limited partnership interests of the Jiesheng Fund, and Hongyi Huahao plans to acquire general partnership interests of the Jiesheng Fund.