DNAKE: Transferred 40% equity of its subsidiary and waived preemptive rights for capital increase

DNAKE announced that the company intends to transfer 40% equity of its wholly-owned subsidiary, Xiamen DNAKE Intelligent Transportation Technology Co., Ltd., to Guangzhou Shujin Hulian Technology Co., Ltd. for RMB 4 million. After the equity transfer is completed, Intelligent Transportation plans to increase its registered capital by RMB 6 million, which will be subscribed by Shujin Hulian for RMB 6 million, and the company will waive its preemptive subscription rights. After the completion of this transaction, the company's shareholding ratio in Intelligent Transportation will change from 100% to 37.50%, and Intelligent Transportation will no longer be included in the company's consolidated financial statements