On August 6, Hongchang Technology made an announcement (Note: The term "Announcement" is retained here as it is a commonly used financial term in Chinese contexts, though it translates directly to "announcement" in English; hence, "announced in an announcement" is used for full context) stating its plan to acquire 45% stakes each in Kunwu Semiconductor Technology (Jiangxi) Co., Ltd. and Anhui Youpin New Materials Co., Ltd. through cash payments. The company has already signed an Equity Acquisition Intent Agreement with the respective counterparties. The expected transaction consideration for the 45% stake in Kunwu Semiconductor is capped at RMB 405 million, whereas for the 45% stake in Youpin New Materials, it is expected not to surpass RMB 315 million. These two transactions will be carried out concurrently and are mutually dependent. Upon successful completion, both target companies will become controlled subsidiaries of Hongchang Technology and will be consolidated into its financial statements. It is important to note that these transactions do not involve related parties and are not anticipated to constitute a major asset restructuring as defined by the Measures for the Administration of Major Asset Restructurings of Listed Companies.