Core Viewpoint - Guangdong Narui Radar Technology Co., Ltd. plans to acquire 100% equity of Tianjin Sigma Microelectronics Technology Co., Ltd. through a combination of issuing shares and cash payment, while also raising supporting funds for this transaction [1][6]. Group 1: Transaction Details - The company received an inquiry letter from the Shanghai Stock Exchange regarding the application for the acquisition and fundraising, and has made necessary revisions and disclosures in response [2][7]. - The audit benchmark date for the transaction has been updated to June 30, 2025, and the company has revised the transaction report accordingly [3][10]. - The board of directors approved the revised report and the related audit reports, which were conducted by Tianjian Accounting Firm [10][11]. Group 2: Board Meeting - The board meeting was held on November 27, 2025, with all five directors present, and the meeting complied with relevant laws and regulations [5][6]. - The board unanimously approved the proposal to revise the acquisition report and its summary, with no votes against or abstentions [6][8]. - The proposal regarding the approval of the updated audit report and review report was also unanimously approved by the board [10].

Core Viewpoint - The importance of intellectual property (IP) protection for foreign enterprises in China is increasingly recognized, leading to proactive measures by local governments to enhance IP services and create a favorable business environment [6][12]. Group 1: Qingdao's IP Services - Qingdao has initiated a "health check" program focusing on IP risks for foreign enterprises, identifying potential risks and providing tailored strategies [7][10]. - The program has already assisted 12 foreign enterprises in conducting customized IP risk assessments since its launch in 2023 [11][12]. - The service team provided detailed reports and recommendations, including strategies for trademark registration and patent application [10][11]. Group 2: Chengdu's Rapid Patent Services - Chengdu has established a fast-track examination process for patent applications, significantly reducing the average authorization time for invention patents from 18 months to 65 days [13][16]. - The city has also implemented a mechanism to address IP-related issues, collecting 57 requests from enterprises and resolving 26 of them [16]. - Chengdu's efforts include enhancing IP financing support by integrating resources from various sectors to assist both domestic and foreign enterprises [15][16]. Group 3: Shanghai's Efficient IP Dispute Resolution - Shanghai has developed a high-efficiency administrative mediation process for IP disputes, with cases typically resolved within four months [17][18]. - The city has successfully handled 87 foreign-related patent infringement cases from 2020 to August 2025, with 98% of cases not leading to administrative litigation [19]. - The collaborative approach among different IP authorities has strengthened the protection network for foreign enterprises in Shanghai [19].