Hongchuan Smart announced that Dongguan Hongchuan Chemical Storage Co., Ltd., a wholly-owned subsidiary of the company, and Wuxi Baisheng signed a “Property Share Transfer Agreement” to transfer 8.47% of Xinzhi Relay Partnership's limited partnership share, corresponding to the pledged and paid-in capital of RMB 10 million, and a transaction consideration of RMB 11.1836 million. On the same day, Hongchuan Storage and professional investment institutions jointly signed a “partnership agreement”. After the transaction is completed, Hongchuan Storage will become one of the limited partners of Xinzhi Relay Partnership, holding 8.47% of the partnership share. The transaction still needs to go through the registration of industrial and commercial changes and related filing procedures.

Hongchuan Smart announced that Dongguan Hongchuan Chemical Storage Co., Ltd., a wholly-owned subsidiary of the company, and Wuxi Baisheng signed a “Property Share Transfer Agreement” to transfer 8.47% of Xinzhi Relay Partnership's limited partnership share, corresponding to the pledged and paid-in capital of RMB 10 million, and a transaction consideration of RMB 11.1836 million. On the same day, Hongchuan Storage and professional investment institutions jointly signed a “partnership agreement”. After the transaction is completed, Hongchuan Storage will become one of the limited partners of Xinzhi Relay Partnership, holding 8.47% of the partnership share. The transaction still needs to go through the registration of industrial and commercial changes and related filing procedures.