Grandway Advised Baoding Technology on the Major Asset Restructuring Unconditionally Approved

On August 10, 2022, Baoding Technology Co., Ltd. (“Baoding Technology”, stock code: 002552) issued shares to Zhaoyuan Yongyu Electronic Materials Co., Ltd., Zhaojin Group Co.Ltd. (“Zhaojin Group”) and other counterparties to purchase their total 63.87% equity of Shandong Jinbao Electronics Co., Ltd. At the same time, the major asset restructuring project of issuing shares to Zhaojin Nonferrous Metal Mining Co., Ltd., a wholly-owned subsidiary of Zhaojin Group, the controlling shareholder of Baoding Technology, to raise matching funds of not more than RMB300,000,000. This project was unconditionally approved by the M&A and Restructuring Committee of CSRC at the 12th meeting in 2022.

After the restructuring transaction, the main business of the listed company will add the design, R&D, production and sales of electronic copper foil and copper laminate on the basis of the R&D, production and sales of large castings and forgings, which will promote the development of the listed company, enhance the profitability and asset quality and safeguard the interests of the shareholders.