Kuang-Chi Tech: Shareholder alliance dissolved, equity shift noted

Kuang-Chi Technologies (SZSE:002625) announced the dissolution of a concerted action relationship between its controlling shareholder, Tibet Innuovo Industrial Development Co., Ltd. ("Tibet Innuovo"), and Shenzhen Kuang-Chi Space Technology Co., Ltd. ("Kuang-Chi Space"). The dissolution was prompted by the departure of Ji Chunlin and Zhang Yangyang from their director positions at Kuang-Chi Space, removing the basis for the concerted action agreement under the "Measures for the Administration of Takeovers of Listed Companies."