Zhitong Financial APP learned that on March 28th, the Shanghai Stock Exchange sent a letter of inquiry on asset acquisition and related party transactions to Jinhua Chunguang Rubber and Plastics Technology Co., Ltd. (603657.SH). According to the inquiry letter, on March 26, 2022, Chunguang Science and Technology announced that it planned to use 115 million yuan in cash to acquire a 45% stake in Suzhou Shangteng Science and Technology Manufacturing Co., Ltd. (Suzhou Shangteng) from Tang Longfu, a related party, with a value-added rate of 748.6%. In December 2020, the company acquired a 55% stake in Suzhou Shangteng from Tang Longfu and others with a discount of 4.75%. The valuation of this transaction is quite different from that of the previous transaction. In 2021, Suzhou Shangteng realized the net profit of-7.8483 million yuan. The Shanghai Stock Exchange asked Chunguang Technology to further disclose whether Tang Longfu still effectively controls Suzhou Shangteng, and if not, explain the reasons and rationality for the company to continue to acquire its minority stake in Suzhou Shangteng.

The Shanghai Stock Exchange requests Chunguang Technology to disclose immediately upon receipt of this inquiry and disclose its reply to this inquiry within 5 trading days.