As a cornerstone of the capital market, M&A restructuring is an powerful capital market instrument that supports the transformation and upgrading of the real economy and fosters high-quality development. It's a crucial strategic tool for enterprises to optimize resource allocation, enhance core competitiveness, and achieve transformative development. In September 2024, China Securities Regulatory Commission (CSRC) issued the Opinions on Deepening the Market Reform for M&A Restructuring of Listed Companies (hereinafter referred to as the "Six M&A Provisions"), which has served as a strong catalyst for the sustained growth of M&A restructuring in the capital market.

Guided with the unified directives of the CSRC, Shenzhen Stock Exchange (SZSE) has earnestly implemented the "Six M&A Provisions" and upheld the market-oriented principles and the serving major national strategies to unleash the capital market's pivotal power in corporate M&A. We have taken multiple measures to support listed companies in executing M&A in a standardized manner, ensuring the successful completion of high-quality transactions. Furthermore, SZSE has strengthened the communication with all market participants to foster a healthy and orderly market ecosystem, further invigorating the M&A restructuring market and contributing to the development of new quality productive forces.

On May 28, SZSE will host a collective briefing on performance for listed companies at the Listing Hall under the theme of "A Confluence of Strengths: M&A Restructuring – A Catalyst for Renewal and Opportunity." Companies such as China Tungsten HighTech, Jiangsu Tongrun Equipment, Changchuan Technology, and YCT Electronics have been invited to participate. During the event, core members from each company, including Chairman, General Managers, Chief Financial Officers, Board Secretaries, and Independent Directors, will engage in face-to-face communication with investors through both online and offline methods. They will provide insights into corporate performance, address investor queries, and solicit investor feedback, thereby facilitating a comprehensive understanding for investors regarding the companies' operational performance, development strategies, and other relevant information. We welcome all investors' continued attention and active participation.