Shenzhen Longtech Smart Control announcement, the company signed an equity acquisition intention agreement with Dragon Source shareholders Yu Mengchu, Li Weihua, and Shenzhen Chengtian Enterprise Management Co., Ltd. on November 6, 2024. The company intends to acquire 55% of Dragon Source's equity held by the aforementioned shareholders in cash, with a transaction price not exceeding 0.506 billion yuan. After this transaction is completed, Dragon Source will become the company's controlling subsidiary. This transaction does not constitute a related party transaction and is not expected to constitute a major asset restructuring.