Guangdong HEC Technology to acquire Qinhe Data China, approves employee stock plan

Guangdong HEC Technology Holding Co., Ltd. is preparing for its second extraordinary general meeting of shareholders in 2025 on October 10. A primary agenda item is the joint capital increase with an associated party for a joint venture company to acquire 100% equity in Qinhe Data China, valued at 280 bn yuan. Guangdong HEC Technology will invest 3.5 bn yuan, resulting in a 46.6654% stake in Dongshu No. 1, which indirectly holds an interest in Qinhe Data China.

Additionally, shareholders will vote on a 2025 employee stock ownership plan. The plan involves up to 200 participants and covers a maximum of 79.616675 million shares, representing 2.645% of the company's current total share capital of 300.955059 million shares. The plan also includes a management methodology and a proposal to authorize the board of directors to handle related matters.

The meeting will involve both in-person and online voting, with all proposals requiring approval from at least 50% of non-affiliated shareholders. Related parties will abstain from voting on these proposals.