On December 12, Gelonghui reported that VESON HLDG (01399.HK) announced the establishment of a joint venture named Cybertech Optiemus Holdings Limited (the "Joint Venture", collectively with its subsidiaries referred to as the "Joint Group"). As of the date of this announcement, the Joint Venture is a subsidiary of the company, with 50% equity owned by Hongliang Technology Co., Ltd. ("Hongliang", an indirect wholly-owned subsidiary of the company), 30% owned by Weike New Energy Technology Co., Ltd., and 20% owned by Insight Technology Holding Limited.

To exit the investment in the Joint Group, on December 12, 2024, Feimaotai (Fujian) Electronics Co., Ltd. (an indirect wholly-owned subsidiary of the company) (as the seller) entered into a sales agreement with Mr. Li Hangsheng (as the buyer), whereby the seller will sell and the buyer will purchase all of Hongliang's issued share capital (the "Sale Shares") for a consideration of RMB 2.25 million.

The group is mainly engaged in the production and sales of lithium-ion battery modules, lithium-ion cells, and related accessories to well-known domestic and foreign mobile communication companies and Internet Plus-Related technology companies. Hongliang is an investment holding company. Hongliang and its subsidiaries (including the Joint Group) primarily provide mobile phone battery and power bank assembly services in India. Upon completion, Hongliang will be 100% owned by the buyer and will no longer be a subsidiary of the company. Hongliang and its subsidiaries (including the Joint Group) will no longer be consolidated into the company's financial statements. The proceeds from the sale will be used by the group for its working capital.