On November 17, Puoran Co., Ltd. made an announcement stating that it had entered into an Equity Transfer Agreement with three shareholders of Zhuhai Noah Changtian Memory Technology Co., Ltd. (hereinafter referred to as "Noah Changtian"). As per the agreement, Puoran Co., Ltd. has plans to purchase a 31% equity stake in Noah Changtian at a cost of RMB 144 million. Upon the completion of this transaction, Puoran Co., Ltd.'s equity share in Noah Changtian will surge to 51%, thereby granting it a controlling interest and enabling it to indirectly own SkyHigh Memory Limited (hereinafter referred to as "SHM"). SHM, a semiconductor enterprise registered in Hong Kong, China, focuses on delivering products and solutions for high-performance 2D NAND and derivative memory types (including SLC NAND, eMMC, MCP). Its key competitive edge lies in firmware algorithm development, memory chip testing solutions, integrated packaging design, and tailored storage products.