Zhito Finance APP News, Shenzhen 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, and held the first extraordinary general meeting of shareholders in 2024 on February 5, 2024, to deliberate and approve the "Proposal on reducing the capital and transferring all equity of the wholly-owned subsidiary", approving the reduction of the registered capital of the wholly-owned subsidiary Hefei Baoming Optoelectronic Technology Co., Ltd. (hereinafter referred to as "Hefei Baoming") from 0.1 billion yuan to 49 million yuan, and transferring all the equity held by the company after the reduction of the registered capital to Hefei Dongcheng Industrial Investment Co., Ltd. (hereinafter referred to as "Hefei Dongcheng Industrial Investment", a state-owned wholly-owned enterprise, indirectly wholly-owned subsidiary of Feidong County People's Government State-owned Assets Supervision and Administration Committee). On March 27, 2024, Hefei Baoming completed the reduction of the registered capital. Recently, the company signed a "Equity Transfer Agreement" with Hefei Dongcheng Industrial Investment, finally confirming the amount of the equity transfer payment to be 40 million yuan.

This equity transfer is a resource integration and optimization based on the company's overall development plan and the actual operational status of Hefei Baoming, which is beneficial for optimizing the company's organizational structure, improving the overall operational efficiency of the company, will not have any adverse effects on the company's normal operation, and will not harm the interests of the company and shareholders. After the completion of this equity transfer, the company will no longer hold equity in Hefei Baoming, and Hefei Baoming will no longer be included in the company's consolidated financial statements.