Wanxiang Qianchao: Announcement on Progress of Major Asset Restructuring

On February 7, Jinshi Data announced that the major asset restructuring is in progress. The company plans to purchase 100% equity of Wanxiang America Corp. through the issuance of shares and cash payment, and raise matching funds from no more than 35 specific investors through the issuance of shares. This transaction constitutes a related party transaction and is expected to constitute a major asset restructuring. Currently, due diligence, audit, evaluation, and other work are underway, and the transaction plan is under further negotiation and has not yet signed a formal transaction document. The company will strictly fulfill its disclosure obligations based on the progress of relevant affairs, please follow the subsequent announcements.