Hu Sheng: Announcement by Important Subsidiary Dongguan Huaguo Electronics Co., Ltd. of Board Resolution to Cancel Investment in "Huaxun Technology Co., Ltd."
Hu Sheng's key subsidiary, Dongguan Huaguo Electronics Co., Ltd., announced the cancellation of its joint venture investment in Huaxun Technology Co., Ltd., opting for strategic cooperation instead, citing market conditions and operational development.
📋 Article Processing Timeline
- 📰 Published: May 12, 2026 at 09:00
- 🔍 Collected: May 13, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 13, 2026 at 09:19 (1h 19m after Collected)
1. Date of occurrence of the event: 2026/05/12
2. Company name: Dongguan Huaguo Electronics Co., Ltd.
3. Relationship with the company (please enter the company or subsidiary): Subsidiary
4. Mutual shareholding ratio: 100% indirectly held by the company
5. Reason for occurrence: Dongguan Huaguo Electronics Co., Ltd. previously resolved through its board of directors on 2024/3/29 to invest in a joint venture company "Huaxun Technology Co., Ltd." with an investment amount of RMB 4.4 million, acquiring 44% of its shares. After careful evaluation by both investing parties, considering the current market environment and operational development, it was deemed inappropriate to pursue relevant businesses through a joint venture company at this stage. After negotiation between both parties, it was resolved to adjust the cooperation model, switching to a strategic cooperation through resource integration, and the original joint venture case is formally cancelled. This cancellation has no material impact on the company's finances and operations.
6. Countermeasures: Both parties will continue to promote strategic cooperation based on resource integration.
7. Other matters that need to be specified (If the subject of the event or resolution is a publicly issued company or above, this material information also complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities Exchange Act regarding matters that have a material impact on shareholders' equity or securities prices): None
Keywords: Material Information
2. Company name: Dongguan Huaguo Electronics Co., Ltd.
3. Relationship with the company (please enter the company or subsidiary): Subsidiary
4. Mutual shareholding ratio: 100% indirectly held by the company
5. Reason for occurrence: Dongguan Huaguo Electronics Co., Ltd. previously resolved through its board of directors on 2024/3/29 to invest in a joint venture company "Huaxun Technology Co., Ltd." with an investment amount of RMB 4.4 million, acquiring 44% of its shares. After careful evaluation by both investing parties, considering the current market environment and operational development, it was deemed inappropriate to pursue relevant businesses through a joint venture company at this stage. After negotiation between both parties, it was resolved to adjust the cooperation model, switching to a strategic cooperation through resource integration, and the original joint venture case is formally cancelled. This cancellation has no material impact on the company's finances and operations.
6. Countermeasures: Both parties will continue to promote strategic cooperation based on resource integration.
7. Other matters that need to be specified (If the subject of the event or resolution is a publicly issued company or above, this material information also complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities Exchange Act regarding matters that have a material impact on shareholders' equity or securities prices): None
Keywords: Material Information