Gelonghui, January 18, 丨 Baoming Technology (002992.SZ) announced that the company held the fourth meeting of the fifth board of directors and the fourth meeting of the fifth board of supervisors on January 18, 2024 to review and pass the “Proposal on Capital Reduction and Transfer of All Shares in Wholly-owned Subsidiaries”. The company plans to reduce the registered capital of the wholly-owned subsidiary Hefei Baoming Optoelectronics Technology Co., Ltd. (“Hefei Baoming” for short) from RMB 10 million to RMB 49 million. After reducing the registered capital, the company will transfer all of its shares in Hefei Baoming Industrial City Co., Ltd. (“Hefei Dongcheng Industrial Investment” for short, a wholly state-owned enterprise, an indirect wholly-owned subsidiary of the Feidong County People's Government's State-owned Assets Supervision and Administration Commission), the specific share transfer amount is based on the final evaluation and audit price, not exceeding the initial price of RMB 406.089 million commissioned by the Feidong Economic Development Zone to audit Hefei Baoming and negotiate with Hefei Dongcheng Industrial Investment. At the same time, the shareholders' meeting was requested to authorize the company's management and Hefei Baoming's legal representative to handle related capital cuts and transfers in accordance with the law. After the transaction was completed, Hefei Baoming was no longer included in the scope of the company's consolidated statements.