Shanghai Yanhua Smartech expands smart city business with related party deal

Shanghai Yanhua Smartech Group announced an estimated daily connected transaction with Daitian Intelligent Technology (Shanghai) Co., Ltd. for the 2025 fiscal year, involving the procurement of smart city-related products up to a cumulative amount of 10 million yuan. This transaction aims to leverage Daitian’s established product ecosystem to expand Shanghai Yanhua Smartech’s business scope and improve its smart city product supply chain. The company’s independent directors and board of directors have approved the transaction.

This move follows the approval of the company’s Q3 2025 report and is part of a broader corporate governance restructuring, including a proposal to eliminate the supervisory board and rename the "Shareholders' General Meeting" to "Shareholders' Meeting." The proposed changes are subject to shareholder approval at the upcoming first extraordinary general meeting on November 20, 2025.

Additionally, Shanghai Yanhua Smartech Group plans to reappoint DaXing Certified Public Accountants as its financial auditor for 2025. The accounting firm has served as the company’s auditor since 2018, and its reappointment is also subject to shareholder approval at the November meeting.