On December 10, Guanglonghui reported that Hunan Friendship & Apollo Commercial (002277.SZ) announced a plan to issue shares and pay cash to acquire assets, along with raising matching funds and related transactions. The listed company intends to acquire 100% of the equity of Shenzhen Shangyangtong Technology Co., Ltd. by issuing shares and paying cash, and to raise matching funds.

Before this transaction, the listed company focused on department store retail as its main Business. In recent years, it has faced challenges due to changing consumer habits, as well as impacts from emerging business formats such as e-commerce and instant retail, leading to intensified competition against traditional physical operation models, which has put pressure on the company's main operating performance. The target company specializes in the research, design, and sales of high-performance semiconductor power devices, establishing stable cooperative relationships with well-known clients in various fields based on its technological advantages and strong brand image.

Upon the completion of this transaction, the listed company will undergo a strategic transformation, entering the power semiconductor field, creating a second growth curve, accelerating the transition to new productivity, and increasing new profit growth points, thereby further enhancing the company's ongoing profitability.

According to the relevant regulations of the Shenzhen Stock Exchange, upon company application, the company’s stock (stock abbreviation: Hunan Friendship & Apollo Commercial, stock code: 002277) will resume trading on December 11, 2024 (Wednesday) starting from market opening.