Xinlaifu's major asset restructuring acquires 100% equity of Jinnan Magnetic Materials.

The plan for the major asset restructuring transaction of Xinlaifu has been announced, and the company's stock will resume trading from April 28. On the evening of April 27, Xinlaifu announced that the company plans to issue shares and pay cash to Saint Ci Technology, Guangzhou Yishang, Huanong Assets, and Jincheng Lai to purchase 100% equity of Guangzhou Jinnan Magnetic Materials Co., Ltd. After the completion of this transaction, Jinnan Magnet Materials will become a subsidiary of the listed company. At the same time, the listed company plans to issue shares to no more than 35 specific investors in accordance with the regulations of the CSRC to raise supplementary funds. This transaction is expected to constitute a major asset restructuring, a related-party transaction, and does not constitute a backdoor listing.