Shenzhen Best of Best Holdings' subsidiary plans to establish a joint venture with Baohui Chip Technology

According to the announcement from Shenzhen Best of Best Holdings (001298.SZ), based on the company's strategic planning, its wholly-owned subsidiary Shenzhen MiLian Technology Co., Ltd. (hereinafter referred to as "Shenzhen MiLian") plans to jointly invest with Shenzhen BaoHuiXin Technology Co., Ltd. (hereinafter referred to as "BaoHuiXin Technology") to establish Shenzhen BaoHuiXin Microelectronics Co., Ltd. (hereinafter referred to as "BaoHuiXin Micro", provisional name, subject to final approval and registration by the industrial and commercial administrative department). Shenzhen MiLian will contribute in cash, intending to invest RMB 5.1 million, accounting for 51% of the total registered capital; BaoHuiXin Technology will also contribute in cash, intending to invest RMB 4.9 million, accounting for 49% of the total registered capital. Upon completion of this transaction, the joint venture will become a holding subsidiary of Shenzhen MiLian and will be included in the company's consolidated financial statements.

This external investment by the company's wholly-owned subsidiary is based on the company's future development strategy and long-term planning needs. By integrating the customer and product line resources of both parties, the company and its subsidiaries will jointly promote business development in related fields such as consumer, PC, automotive, and industrial sectors, optimize the overall resource allocation of the company, improve operational efficiency, and deeply integrate with other business segments of the company, enriching the industrial layout, further enhancing the company's comprehensive competitiveness, forming new business growth points, and achieving long-term and steady development for the company