Chongqing Qin'an M&E PLC (603758.SH) intends to purchase a 99% stake in Yeguang Electronics in cash.

Chongqing Qin'an M&E PLC (603758.SH) announced that the board of directors has approved the "Proposal on Terminating the Issuance of Shares, Paying Cash to Purchase Assets and Raising Matching Funds, and Continuing Negotiations to Purchase Assets in Cash" and agreed to terminate the issuance of shares, pay cash to purchase 99% equity of Anhui Yi Gao Optoelectronic Technology Co., Ltd., and raise matching funds. Additionally, they will further negotiate the purchase of the aforementioned assets in cash. The announcement stated that the company plans to terminate the original issuance of shares, pay cash to purchase 99% equity of Anhui Yi Gao Optoelectronic Technology Co., Ltd. and raise matching funds, and separately acquire the equity of Yi Gao Optoelectronic in cash. They have already signed an intention agreement with 11 major shareholders of Yi Gao Optoelectronic. This agreement is preliminary, and specific transaction plans, pricing, payment arrangements, performance commitments, and compensation terms will be subject to the final formal agreement. The transaction will proceed after further negotiation among all parties involved in the transaction and completion of necessary internal decision-making procedures (including but not limited to board of directors and shareholders meeting approvals). The successful progress and implementation of this transaction still have uncertainties.