Lead Power Technology: Plans to transfer 100% equity of Dazhi Chemical for 68.4359 million yuan

Lingpai Technology announced that the company has signed an Equity Transaction Contract with qualified bidder Guangzhou Huayuan Investment Co., Ltd. to transfer 100% equity of its wholly-owned subsidiary Guangdong Dazhi Chemical Technology Co., Ltd. at a transfer price of RMB 68.4359 million. Guangzhou Huayuan is not a related party of the company, and this transaction does not constitute a related-party transaction. It does not need to be submitted to the shareholders' meeting for review and has obtained approval from the state-owned asset management department. The transaction price shall be paid in two installments: the first 50%, i.e., RMB 34.2179 million, shall be paid within 5 working days from the date of contract signing, and the remaining 50% shall be paid within 5 working days after the completion of the equity transfer. The RMB 10 million transaction deposit shall be applied toward the first installment. This equity transfer still requires the completion of industrial and commercial change registration.