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Kailong High-Tech: Plans to sell its holdings in Power New Science shares
Kailong High-Tech Announcement: The company plans to sell, at an appropriate time, its holdings in Shanghai New Power Automotive Technology Co., Ltd. (New Power Tech). As of now, the company holds 4.6M unrestricted circulating shares of New Power Tech, accounting for 0.33% of New Power Tech’s total share capital. The purpose of this sale is to optimize asset structure and improve asset operation efficiency. The transaction methods include centralized bidding, block trading, and others, with the sale quantity not exceeding 4.6M shares. The specific transaction price will be determined based on the trend of the secondary market stock price. The transaction authorization period is within 12 months from the date the shareholders’ meeting approves it.