Xiangshan Co., Ltd.: Plans to acquire 100% equity of Wuluo Smart, adding AI computing equipment business

Xiangshan Co., Ltd. announced that the company plans to issue shares to Ningbo Genxi, Zhejiang Qintong, Zhiyan Xinhe, Wenzhou Qunhong, Ruisheng Intelligent, and Wang Ling, and pay cash to acquire 100% equity of Zhejiang Wuluo Smart City Technology Co., Ltd. (hereinafter referred to as "Wuluo Smart") held by them in aggregate, and to raise supporting funds. As of now, the audit and valuation of the target assets have not been completed, and the appraised value and transaction price of the target assets have not been finalized. After friendly negotiations, all parties agreed and confirmed that in this transaction, the total consideration for the company's purchase of 100% equity of Wuluo Smart held by the counterparties is tentatively set at 800 million yuan. If the appraised value of Wuluo Smart's 100% equity as stated in the valuation report issued by an asset appraisal institution qualified for securities and futures business is adjusted by no more than ±5% relative to the aforementioned total consideration, the total consideration will not be further adjusted. This transaction is not expected to constitute a major asset restructuring.

According to the announcement, Wuluo Smart is mainly engaged in the R&D, production, and sales of AI computing equipment and products, and is committed to providing integrated engineering solutions around AI computing infrastructure for computing centers and industry clients. The company stated that upon completion of this transaction, the publicly listed firm will add an AI computing equipment business on top of its existing auto parts business, forming a dual-engine business structure of "auto parts + AI computing."Lianke Technology: Plans to Establish a Company Overseas and Build a New Production Site