CR Holdings (01911): Fang Gang Group successfully listed in Hong Kong through the De-SPAC process.

CR HOLDINGS (01911) announced that its subsidiary company, as the manager, successfully completed the merger transaction (De-SPAC) with Zhaogang Industry Internet Group (Zhaogang Group), a company invested by the Huaxing New Economy Fund, through Aquila Acquisition Corporation and listed on the main board of the Hong Kong Stock Exchange (06676). Zhaogang Group is the first company in China to be listed in Hong Kong through the De-SPAC route. The Huaxing New Economy Fund jointly led the D round financing of Zhaogang Group in 2015, and continued to support its development. In 2017, they again jointly led a new round of financing for Zhaogang Group, with a total investment of nearly 400 million RMB. This fully reflects the high recognition and firm confidence of CR HOLDINGS in the Zhaogang Group team and business model, as well as the excellent investment research capabilities of the Huaxing New Economy Fund management team. Huaxing has always adhered to the mission of bringing good returns to investors.