Xiongsu Technology: Wholly-owned subsidiary plans to sell assets with a transaction price of 80 million yuan

Xiongsu Technology announced that it plans to transfer the land use rights and the above-ground buildings of its wholly-owned subsidiary, Guangxi Xiongsu Technology Development Co., Ltd., located at No. 18 Guokai Avenue, Jiangnan District, Nanning City, to Guangxi Zhongke Energy Conservation Technology Co., Ltd. at a transaction price of RMB 80 million. This transaction does not constitute a major asset restructuring, does not involve related party transactions, and does not require approval from relevant government departments or consent from other third parties, but it still needs to be submitted for review by the company's shareholders' meeting. The assessed value of the target asset is RMB 79.0913 million, with an appraisal appreciation rate of 169.99%. After the asset sale, the proceeds will be used to supplement the company's working capital or for other funding arrangements that align with the company's development strategy. This transaction still requires approval from the company's shareholders' meeting before the parties can sign a formal agreement