Kuang-Chi Tech: Change in concerted action relationship rationale

Kuang-Chi Technologies (SZSE:002625) announced a change in the rationale for the concerted action relationship between its controlling shareholder, Tibet Inno-Bond Industrial Development Co., Ltd. ("Tibet Inno-Bond"), and Shenzhen Kuang-Chi Space Technology Co., Ltd. ("Kuang-Chi Space"). The original basis stemmed from the control of both entities by Liu Ruopeng and overlapping key personnel. Specifically, two of Kuang-Chi Space’s directors also served as directors at Tibet Inno-Bond.