Hechuan Technology: Intends to transfer 13% equity of Hechuan Robotics to affiliated party Ningbo Youlong.

Hechuan Technology announced that Wang Zhibin, a minority shareholder of its subsidiary Hechuan Robot, plans to transfer his 13% equity stake for 1.5 million yuan to Ningbo Youlong Entrepreneurship Investment Partnership, and Ningbo Youlong will fulfill the corresponding equity paid-in obligation. Ningbo Youlong is an affiliated party in which Wang Zhibin serves as the executive partner. After the completion of this equity transfer, Hechuan Technology will jointly hold the equity of its subsidiary Hechuan Robot with the affiliated party Ningbo Youlong. The purpose of this equity transfer is to introduce Ningbo Youlong as a holding platform for the future implementation of equity incentives for Hechuan Robot.