Huagong Tech (000988.SZ) subsidiary, Huagong Investment, plans to acquire 6.67% ownership share of He Runsheng's assets for 20 million yuan.

Huagong Tech (000988.SZ) issued an announcement stating that its wholly-owned subsidiary, Wuhan Huagong Tech Investment Management Co., Ltd. (hereinafter referred to as "Huagong Investment"), recently signed a "Wuhan City Herunsheng Enterprise Management Consulting Partnership Enterprise (Limited Partnership) Partnership Property Share Transfer Agreement" with Wuhan Changfei Capital Management Co., Ltd. (hereinafter referred to as "Changfei Capital Management"). Huagong Investment used its own funds of 20 million yuan to acquire 6.67% of the property share in Herunsheng held by Changfei Capital Management. After the transfer is completed, Huagong Investment and Changfei Capital Management will jointly serve as limited partners of Herunsheng, with their respective contributed capital as the limit of their limited liability. Wuhan Changfei Industrial Fund Management Co., Ltd. (hereinafter referred to as "Changfei Industrial Fund") is the general partner and executing partner of Herunsheng, and is registered with the China Securities Investment Fund Association as a private fund manager. Therefore, this transaction constitutes a co-investment with a professional institution. The parties recently completed the re-signing of the "Wuhan City Herunsheng Enterprise Management Consulting Partnership Enterprise (Limited Partnership) Partnership Agreement".