On June 11, China Control Technology announced that in order to focus on the main business and highlight the attribute of science and technology innovation, the company intends to transfer 100% of the equity of Zhejiang China Control System Engineering Co., LTD. (” China Control System Engineering “) to Zhejiang China Control Xizi Technology Co., LTD. (” China Control Xizi “), with a transaction consideration of 52.161 million yuan. After the completion of this transaction, the Company will no longer directly hold the equity of the Central control system project, the central control system project will no longer be included in the scope of the company’s consolidated statements, and the creditor’s rights and debts will be borne by the transferee.
85UVF1A-1QD Zhongcong Technology said that the transaction will help the company focus on its main business, highlight the attributes of science and innovation, strengthen the business collaborative management of its subsidiaries, and further optimize the asset structure and industrial layout. After the completion of this transaction, the Company will no longer directly hold the equity interest of the Zhongcontrol System Engineering, and the Zhongcontrol System Engineering will no longer be included in the scope of the Company’s consolidated statements, and will not have an adverse impact on the current and future financial condition and operating results of the Company.

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On the same day, Zhongkong Technology announced that the company’s participation company Zhejiang Humanoid Robot Innovation Center Co., LTD. (” Humanoid Robot Innovation Center “) intends to add 8.8 million yuan of registered capital. The capital increase was subscribed by Ningbo Financial Development Investment Holding Group Co., LTD. (or its wholly-owned subsidiaries), Ningbo Haishu Industrial Investment Co., LTD., Ningbo Yongshuiqiao Zhongzhou Investment Partnership (Limited Partnership)(” Yongshuiqiao Zhongzhou “), etc., with a total investment of 110 million yuan, of which the related party Yongshuiqiao Zhongzhou contributed 25 million yuan.
85UVF1A-1QD It is reported that the company intends to give up the pre-emptive rights for the capital increase. After the completion of this transaction, the company’s ownership of the humanoid Robot Innovation Center has been reduced from 44.3975% to 34.9650%. The introduction of the government industrial investment fund as a strategic investor is conducive to comprehensively attracting strategic investors in the industry, helping to gather more local industry, capital, talent, research and development resources in Ningbo, accelerating the industrialization process of humanoid robot innovation center products, and thus accelerating the company’s layout in the field of humanoid robots.