On the evening of September 4, Zhouming Technology made an announcement stating its intention to acquire 100% of the equity in Hangzhou Xihe Optoelectronics Co., Ltd. (referred to hereafter as "Xihe Optoelectronics") for 24.68 million RMB using its own funds and bank loans. Once the equity transfer is completed, the company will hold full ownership of Xihe Optoelectronics, making it a wholly-owned subsidiary of the company.
Xihe Optoelectronics is located in the Yuhang Economic Development Zone, a prime location with great potential. Through this acquisition, Zhouming Technology aims to establish a regional headquarters in East China by leveraging Xihe Optoelectronics as the cornerstone. This move will significantly boost the company's presence and influence in East China while allowing it to better cater to customer demands nationwide. Post-acquisition, Zhouming Technology plans to capitalize on Xihe Optoelectronics' advantageous geographical position to further penetrate the East China market, strengthening its reach across the country. By doing so, the company expects to improve its responsiveness to customer needs, facilitate the expansion of its national market, and ultimately create a positive impact on its overall operations.
Attached is an image related to our ongoing business updates.
[Image: Company logo]
This acquisition represents a strategic step forward for Zhouming Technology as we continue to grow and expand our footprint in the region. We remain committed to delivering exceptional value to our customers and stakeholders alike.
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