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Huamao Technology: The review of the issuance of shares and cash payment to purchase assets, as well as the fundraising of supporting funds and related-party transactions, has been suspended.
Huamao Technology Announcement: The company plans to acquire a 9.93% stake in Shenzhen Fuchuang Youyue Technology Co., Ltd., 100% equity of Shenzhen Yinrui Technology Co., Ltd., and 100% capital contributions of Shenzhen Fuchuang Youyue No. 1, No. 2, and No. 3 Enterprise Management Partnership, by issuing shares and paying cash (part of the cash paid by the company’s wholly-owned subsidiary). The company will also issue shares to its controlling shareholder, Dongyang Huasheng Enterprise Management Partnership (Limited Partnership), to raise supporting funds. Recently, the company received a review notice from the Shanghai Stock Exchange, and the review of the company’s issuance of shares and payment of cash to purchase assets, raise supporting funds, and related-party transactions has been suspended.