
Overview - The article discusses the spin-off of Yonyou Network Technology Co., Ltd.'s subsidiary, Yonyou Automotive Information Technology (Shanghai) Co., Ltd. (referred to as "Yoche Technology"), to be listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange [1][2]. Spin-off Listing Details - Yoche Technology's spin-off listing was approved by the China Securities Regulatory Commission on March 7, 2023, following the necessary internal approvals from Yonyou Network [2][3]. - The spin-off aims to enhance Yoche Technology's financing capabilities and improve the overall financing efficiency of Yonyou Network [3]. Independence and Operational Capability - Both Yonyou Network and Yoche Technology maintain independent and complete operational assets, with established independent financial departments and management systems [2][3]. - There is no overlap in the organizational structure between Yoche Technology and Yonyou Network, ensuring that both entities operate independently without asset interference [3][4]. Financial Impact Post Spin-off - Following the spin-off, Yonyou Network continues to hold a controlling stake in Yoche Technology, which remains consolidated in Yonyou Network's financial statements [3][4]. - The financial performance of Yonyou Network for the year 2024 shows a decrease in revenue to approximately 9.15 billion yuan, a decline of 6.57% compared to 2023 [4][5]. - The net profit attributable to shareholders decreased significantly by 113.13%, amounting to approximately -2.06 billion yuan [5]. Compliance and Disclosure - Yonyou Network has adhered to all relevant legal and regulatory requirements regarding the spin-off and has provided accurate disclosures without any misleading information [5][6]. - The spin-off has not adversely affected Yonyou Network's operational capabilities or its stock price [4][5].