Gelonghui March 9th 丨Siweituxin (002405.SZ) announced that according to the relevant provisions of the “Company Law”, “Constitution of Beijing Siweitu New Technology Co., Ltd.” and “Shenzhen Stock Exchange Stock Listing Rules”, and in line with the company's business development strategy with intelligent automobiles as the main track, the company plans to transfer shares in a total of 11 Sun companies (“Target Sun Companies” for short).

The target Sun company is a subsidiary of Zhonghuan Satellite Navigation and Communications Co., Ltd. (“Zhonghuan Satellite” for short), a new subsidiary of Siweitu. Details include: Inner Mongolia Zhonghuan Satellite Navigation Communications Co., Ltd., Gansu Zhonghuan Satellite Navigation Communications Co., Ltd., Shanxi Zhonghuan Satellite Navigation Communications Co., Ltd., Beijing Zhonghuan Tianchang Satellite Navigation Technology Co., Ltd., Henan Zhonghuan Satellite Navigation Communications Co., Ltd., Shandong Zhonghuan Network Technology Co., Ltd., Jiangsu Zhonghuan Satellite Navigation Communications Co., Ltd., Nanjing Zhonghuan Yuede Network Technology Co., Ltd., Hubei Zhonghuan Satellite Navigation Communications Co., Ltd.

The transferor of this transaction is Zhonghuan Satellite, and the transferee is Zhonghuan Satellite System (Shaanxi) Group Co., Ltd. (“Shaanxi Zhonghuan” for short). The transfer entrusted Zhonghua Asset Appraisal Co., Ltd. as the evaluation agency and carried out the evaluation in accordance with the Asset Foundation Law. The valuation value corresponding to the equity was RMB 26.1861 million. The price of this equity transfer was based on the assessed value, and the transaction price was RMB 26.1861 million.