Eastcom Technology: Terminating the Planning of Major Asset Restructuring

People’s Financial News, March 27 - Dongtu Technology (300353) announced on March 27 that it has terminated the planning of a major asset restructuring. Previously, the company intended to purchase 100% of Beijing Gaoweike Electric Technology Co., Ltd. (referred to as “Gaoweike”) from Zhang Xun, Liu Xinping, and 41 other trading parties through share issuance and cash payment, and to issue shares to no more than 35 specific investors to raise supporting funds. This transaction involves the integration of products and solutions from multiple fields, which requires more than six months for the integration period. To fully reflect the value of the acquisition, the company and Gaoweike have agreed to terminate this major asset restructuring matter and will proceed with related issues once the synergy effects are clarified. At the same time, the company and Gaoweike signed a “Strategic Cooperation Agreement” to jointly develop industrial automation control system solutions; share customer resources and market channels; and promote technical research and development cooperation and achievement transformation. The “Strategic Cooperation Agreement” signed this time is the core arrangement for the company to advance cooperation in stages with the principles of “synergy first, step-by-step integration, and innovative fusion,” following the termination of the original major asset restructuring with Gaoweike.