On November 22, 2023, USpace Tech (01725.HK) announced that on November 22, 2024, the seller, Huizhou Hongsheng Chang Technology Co., Ltd. (a wholly-owned subsidiary of the company), and the buyer, Huizhou Longming Technology Co., Ltd., entered into an agreement under which the seller conditionally agrees to sell and the buyer conditionally agrees to acquire all the paid-in capital of the target company for a price of 27.1 million yuan. As of the date of this announcement, the target company is wholly owned by the seller.

Upon completion, the seller will no longer hold any equity in the target company, and the target company will no longer be a subsidiary of the company. Therefore, the financial performance of the target company will no longer be consolidated into the group's consolidated financial statements.

The target company is a limited company established in China and is a wholly-owned subsidiary of the seller. The main business of the target company is property holding, and its main assets are the target property. The target property is located at No. 11, Qingli Second Road, Shuikou Street, Huicheng District, Huizhou City, Guangdong Province, China. The target property consists of 4 buildings, including a 7-story production workshop, a 9-story dormitory, and two single-story guardhouses, with a total construction area of approximately 45,255 square meters, of which approximately 42,500 square meters are used by the group as production facilities for its EMS business and approximately 2,600 square meters are leased to independent third parties.