Xinghua New Materials: To acquire 70% equity of Dongwang Technology for 140 million yuan, entering the fields of artificial intelligence and computing power.

Star New Materials announced that the company has signed a "Equity Transfer Agreement" with Dongwang Intelligent Technology Co., Ltd. The company will use its own funds or self-raised funds to purchase 70% of Dongwang Technology's equity held by the original shareholders He Yundong and Zhang Guofa, at a transaction price of 140 million yuan. After the completion of the transaction, the company will become the controlling shareholder of Dongwang Technology and will include it in the consolidated financial statements. Dongwang Technology is an enterprise specializing in software and hardware system integration, custom services, artificial intelligence, and digital fields, and is a core partner for enterprise digital transformation and AI intelligence upgrade. Its business covers information system integration and intelligent solutions, computing infrastructure construction and services, computing card maintenance and repair, and other businesses. After this transaction is completed, the listed company will achieve strategic transformation and further enter into the field of artificial intelligence and computing power, create a second growth curve, accelerate the pace of transformation towards new quality productivity, increase new profit growth points, and further enhance the sustainable profitability of the listed company.