Fullink Technology (301067.SZ) plans to transfer control of its subsidiary Dongguan Runzhong by 51% and divest non-core assets.

Fullink Technology (301067.SZ) Announcement: Due to changes in the domestic and international markets, the business of Dongguan Runzhong Electronics Co., Ltd. (referred to as "Dongguan Runzhong" or the "target company") has been impacted, and its operating performance has not met expectations. According to the financial data provided by Dongguan Runzhong, there is a significant difference between the actual performance achieved in 2023 and 2024 and the performance commitments in the Supplementary Agreement to the Equity Transfer Agreement, which is expected to be unattainable. Considering factors such as the withdrawal of investment funds, maintaining the legal rights and interests of the company and shareholders, as well as the long-term development strategy, it is deemed that the necessity of retaining control of Dongguan Runzhong is low. Therefore, the decision has been made to divest non-core assets in order to optimize the asset structure. After negotiations with various parties, the Company and the "counterparty" consisting of Liu Wei and the Chairman of the Company Xiao Jie, signed the Agreement on the Equity Transfer of Dongguan Runzhong Electronics Co., Ltd. on January 8, 2025 (referred to as the "Equity Transfer Agreement"). Liu Wei repurchased 31% of the equity of Dongguan Runzhong, while Xiao Jie acquired 20% of the equity (referred to as the "transaction"). After this transaction, Dongguan Runzhong will be a company jointly owned by Liu Wei, Tan Xianshiu, and Xiao Jie holding 100% of the shares. The rights and obligations agreed upon in the original agreement between the Company and Liu Wei and Tan Xianshiu, known as the "Equity Transfer Agreement" and the "Supplementary Agreement" regarding Dongguan Runzhong Electronics Co., Ltd., have been terminated.