Dawning Information updates on major asset restructuring with Hygon

Dawning Information Industry Co., Ltd. announced ongoing progress of its major asset restructuring. This plan involves Hygon Information Technology Co., Ltd. acquiring Dawning Information via a share-for-share merger and issuing new shares to raise supporting funds. This transaction is a related-party transaction and a major asset restructuring, though it will not result in a change of control for Hygon Information, nor does it constitute a reverse takeover.

Dawning Information’s A-share stock resumed trading on June 10, 2025, following a suspension initiated on May 26, 2025. Updates on the restructuring were previously disclosed on July 9, August 7, and September 6, 2025. Due diligence is currently underway, and the company plans to convene another board meeting to deliberate on relevant proposals once the necessary work is completed.

Investors are cautioned that the transaction remains subject to approval by both companies' boards and shareholders, as well as relevant securities regulatory authorities. The timing and certainty of these approvals are not guaranteed. Further details on potential risks and procedures were outlined in the June 10, 2025, disclosure.