Flyco associate Puremi technology approved for NEEQ listing

Shanghai Flyco Electrical Appliance Co., Ltd. (Flyco) announced that its associate, Puremi Technology (Shanghai) Co., Ltd., received a notice from the National Equities Exchange and Quotations (NEEQ) system, agreeing to the public transfer and listing of Puremi Technology’s shares. This approval allows Puremi Technology to commence trading via competitive bidding, valid for 12 months from its issue date. Puremi Technology's shareholder count did not exceed 200 at the time of application, qualifying it for exemption from registration with the China Securities Regulatory Commission.

Puremi Technology specializes in the design, research and development, production, and sale of small household appliances such as rice cookers, food processors, microwave ovens, induction cookers, and water purifiers. Flyco currently holds a 13.7945% equity stake in Puremi Technology and maintains representation on its board, participating in financial and operational policy decisions.

Flyco will continue to classify its investment in Puremi Technology as a "long-term equity investment" under the equity method, even after the listing. The company states that this listing will not significantly impact its financial condition or operating results. Flyco will monitor the progress of Puremi Technology's listing and fulfill its information disclosure obligations.