SmartGen Robot denies planning to acquire 63.62% stake in Shangwei New Materials as a shell listing, stating that the two companies' business synergy plan will be announced to the public later.

Yesterday, Shangwei New Materials announced that Zhiyuan Robot has acquired at least 63.62% of its shares, attracting widespread attention from the market. Does this transaction constitute a backdoor listing? Zhiyuan Robot responded to reporters, stating, "This action is only for the acquisition of controlling rights and does not constitute a backdoor listing as defined in the 'Measures for the Administration of Major Assets Reorganization'." In addition, regarding the issue of whether the two companies' main businesses, new materials and robots, can achieve effective business synergy, personnel from the securities department of Shangwei New Materials explained to reporters that "some of the company's existing businesses will indeed be applied in the field of robots, and specific business synergy plans will be announced to the public after a period of integration."