Lianchuang Electronic announces major share transfer, state-backed private placement

Lianchuang Electronic Technology announced that its controlling shareholder, Jiangxi Xinsheng Investment, and actual controller, Han Shenglong, signed a share transfer agreement with Nanchang Beiyuan Intelligent Industry Investment Partnership on December 24, 2025. Beiyuan Intelligent will acquire 70,866,141 shares of Lianchuang Electronic from Jiangxi Xinsheng for 899,999,990.70 yuan, representing 6.71% of the company's total share capital. Following this, Beiyuan Intelligent will become the controlling shareholder, with Jiangxi State-owned Assets Investment Management as the indirect controlling shareholder.

Concurrently, Lianchuang Electronic has entered a conditional share subscription agreement with Jiangxi State-owned Assets Investment for a private placement of up to 189,095,127 A-share shares at 8.62 yuan per share, totaling up to 1,629,999,994.74 yuan. This private placement aims to consolidate control, provide capital for business development, and optimize the company's financial structure. Both transactions are subject to various regulatory approvals.

The company's board of directors has approved these resolutions. The funds from the private placement will primarily be used to supplement working capital and repay interest-bearing liabilities, enhancing the company's solvency and risk resistance. The shares acquired by Jiangxi State-owned Assets Investment in this private placement will be locked up for 36 months post-issuance.