Jiangsu Kolansu, a wholly-owned subsidiary of Longpan Technology (02465), plans to absorb and merge the company's wholly-owned subsidiary Shangyi Environmental Protection

Zhitong Finance App News, Longpan Technology (02465) announced that Jiangsu Coransu Environmental Technology Co., Ltd. (hereinafter referred to as “Jiangsu Coransu”), a wholly-owned subsidiary of Jiangsu Longpan Technology Co., Ltd. (hereinafter referred to as “Longpan Technology” or the “Company”), intends to absorb and merge Nanjing Shangyi Environmental Technology Co., Ltd. (hereinafter referred to as “Shangyi Environmental Protection”), a wholly-owned subsidiary of the company. After the merger is completed, Shangyi Environmental Protection will be cancelled in accordance with law, and all of its assets, liabilities, business, personnel and all other rights and obligations will be inherited by Jiangsu Kolansu according to law.

This merger is an absorption merger between the company's wholly-owned subsidiaries, which helps to further improve the company's operational efficiency, optimize resource allocation, reduce management costs, and promote enterprise quality and efficiency. This matter is in line with the company's development strategy and is conducive to the company's continuous, stable and healthy development.

This merger is an enterprise merger under the same control. Both the merger party and the merged party are wholly-owned subsidiaries of the company. Their financial statements are included in the scope of the company's consolidated statements. After the merger and absorption, it will not have a substantial impact on the company's consolidated statements, nor will it adversely affect the company's overall business development and continued profitability, and there are no circumstances that harm the interests of the company and shareholders, especially small and medium shareholders.