CFT: Wholly-owned subsidiary Beiwang Technology intends to acquire 94.2752% equity of Liaoning Shengfan for 32.8454 million yuan

CFT announced that its wholly-owned subsidiary, Liaoning Shenfu Northern Power Grid Technology Co., Ltd., intends to acquire 94.2752% of the equity of Liaoning Shengfan New Energy Engineering Co., Ltd. held by Mr. Ding Min, Ms. Zhang Rui, and Shanghai Huano Equity Investment Fund Management Co., Ltd. in cash, with a transaction amount of 32.8454 million yuan. Upon completion of the transaction, Liaoning Shengfan will become a controlling subsidiary of the company and will be included in the consolidated financial statements. The counterparties include related natural persons Mr. Ding Min and Ms. Zhang Rui, and the related legal entity Shanghai Huano. This transaction constitutes a related party transaction but does not constitute a major asset reorganization. The funds for the acquisition of the equity of the aforementioned target company by Northern Power Grid Technology will come from its own funds or self-raised funds and do not belong to raised funds