Rainbow Company: The acquisition of Huali Micro shares is actively progressing.

Huahong Corporation announced on September 29th that the company plans to acquire the equity of Shanghai Huali Microelectronics Co., Ltd. through issuing shares and payment of cash, and to raise supporting funds. This transaction is expected to constitute a related party transaction, but not a major asset restructuring or restructuring for listing. The company and related parties are actively promoting the relevant work of this transaction, and the auditing, evaluation, and other work involved in this transaction is proceeding in an orderly manner.