Geelong December 4th | Youon Technology (603776.SH) announced that the company plans to purchase 65% of the shares of Shanghai Lianshi held by a total of 13 trading parties including Ma Fei, Xu Jiyang, Shanghai Shi Yi, Fujian Xinggong, Gitic Entrepreneurship Fund, Tianjin Yuanzhi, Li Xiaoyu, Changzhou Hongtu, Li Ying, Fosun Chongqing Fund, Fund II of Fosun, Deep Venture Capital, Jiaxing Huayu by issuing shares and paying cash, and to issue shares to raise matching funds to no more than 35 specific investors. As of the day of signing this proposal, the audit and evaluation work of the target company has not been completed, and the specific transaction price of this transaction has not been determined. According to relevant regulations, after applying to the Shanghai Stock Exchange, the company's stocks, convertible bond bonds, and convertible bond conversion stocks will resume trading from 2024 on December 5th (Thursday).

The target company is a high-tech enterprise applying self-driving technology, precision control technology, and artificial intelligence algorithms in smart agriculture. The target company is mainly engaged in the intelligent transformation of agricultural machinery and equipment businesses such as "autonomous driving, unmanned agricultural machinery, smart operations, agricultural robots", and has developed a smart farm solution of "single-machine intelligence -> multi-machine collaboration -> full-process unmanned management of plowing, seeding, management, and harvesting", mainly used in various aspects of agricultural production operations. The target company's products have high global market competitiveness and have been exported to many countries and regions overseas. This transaction will help the listed company quickly enhance its profitability, accelerate its entry into the field of agricultural machinery unmanned driving, accumulate technology, enrich the strategic layout of emerging sectors, and create new productive forces.

The target company has strong technological innovation capabilities in the field of agricultural machinery unmanned driving, with its self-driving technology, precision control technology, and artificial intelligence algorithms applied in the field of automatic driving systems for agricultural machinery, being one of the first companies in China to introduce electric steering wheel automatic driving system products based on BeiDou satellite navigation. This transaction will help the listed company to accelerate its entry into the field of agricultural machinery unmanned driving based on the long-term research and technological advantages accumulated by the target company, promote business innovation and development through the integration of technologies from both sides, and enrich the layout of business sectors. Through this transaction, Shanghai Lianshi will become a controlling subsidiary of the listed company, which will enhance the profitability and sustainable operation capabilities of the listed company, in line with the interests of the listed company and all shareholders.