SHEN MACHINE: The transfer of the subject assets for the issuance of shares to purchase assets and raise supporting funds, as well as related party transactions, has been completed

SHEN MACHINE announced that the company plans to acquire 100% equity of Shenyang Zhongjie Aerospace Machine Tool Co., Ltd. and 100% equity of Shenyang Machine Tool Zhongjie Friendship Factory Co., Ltd., held by General Technology Group Shenyang Machine Tool Co., Ltd., through the issuance of shares, as well as 78.45% equity of Tianjin Tianduan Press Co., Ltd., held by General Technology Group Machine Tool Co., Ltd., and raise matching funds. As of the date of this announcement, the transfer procedures and related business change registrations and filings for the target assets of this restructuring have been completed. Zhongjie Aerospace and Zhongjie Factory have become wholly-owned subsidiaries of the company, and Tianjin Tianduan has become a holding subsidiary of the company. The company still needs to issue shares to the counterparty to pay the transaction price and complete the issuance of shares to raise matching funds within the approved timeframe