On August 6th, Gelon Stream announced that the company held the 16th meeting of the third board of directors on August 6, 2024 and passed the "Proposal on Signing the Letter of Intent for Cooperation with Meiko Co., Ltd.", agreeing that the company and Meiko will use cash to increase capital to the company's wholly-owned subsidiary JIARUIANPTE.LTD.(referred to as "JIARUIAN") respectively. After the capital increase is completed, the company will hold no less than 85.1% of the equity of JIARUIAN, and Meiko will hold no more than 14.9% of the equity of JIARUIAN.
According to the relevant provisions of the Shenzhen Stock Exchange listing rules, the "Letter of Intent for Cooperation" signed this time does not constitute related party transactions, nor does it constitute a major asset restructuring as stipulated in the "Administrative Measures for Major Asset Restructuring of Listed Companies".
In this cooperation, Meiko will inject its excellent overseas management experience and leading industry position, injecting powerful overseas factory management wisdom into the Thai base. This cooperation is expected to promote the efficient layout of the company's downstream business, accelerate the promotion and application of the company's existing products in AI servers, AIPC, communication and network equipment, automotive electronics and other fields, and continuously enhance the company's overall competitiveness and market position.