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              Responsibility, honesty, hard work and innovation

              Jiangsu jiedeng will become the controlling shareholder of Baoxin technology at a premium

              Baoxin Technology (002514) announced on the evening of November 26 that the controlling shareholder Chen Dong planned to transfer 5% of the company's shares held by him to Jiangsu jiedeng at a transfer price of 7 yuan / share (78% premium over today's closing price of 3.92 yuan / share), and the total price of share transfer was 194 million yuan. Chen Dong and Wang Min jointly entrusted Jiangsu jiedeng to exercise their voting rights of 18.25% of the company's shares. After the completion of this transaction, Jiangsu jiedeng holds a total of 23.25% of the voting rights of the company and becomes the controlling shareholder of the company.

              Before the completion of this transaction, Chen Dong was the controlling shareholder of Baoxin technology, and Chen Dong and Wang Min were the actual controllers of the company. Chen Dong and Wang Min jointly held 129 million shares of Baoxin technology, accounting for 23.25% of the total share capital of the company. After the share transfer is completed and the voting right entrustment takes effect, Jiangsu jiedeng will become the shareholder with the largest single voting right share of Baoxin technology, the controlling shareholder of the company, and Ma Wei will become the actual controller of the listed company.

              According to the 2020 semi annual report of Baoxin technology, the parent company is mainly engaged in the R &amp; D, production and sales of sheet metal parts of medical devices, various precision sheet metal structural parts, charging piles, automation equipment and related parts; R &amp; D, production and sales of power transmission and distribution and control equipment such as electrical cabinet and power cabinet; R &amp; D and sales of various control software; Sales of electric boilers and electronic special materials; Heat production and sales (small-scale schools, hospitals, commercial entities, residential areas, etc.); Lease of plant and equipment; Electromechanical engineering construction, etc. While the company continues to pursue epitaxial growth, it


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