Core Viewpoint - The company is divesting its wholly-owned subsidiary, Fenghua Electronics, due to ongoing losses and competitive pressures in the crystal resonator market, with the decision approved by the board on October 29, 2025 [1] Group 1: Company Actions - The company will publicly list the 100% equity of Fenghua Electronics for transfer, with the management authorized to handle the specifics of the transaction [1] - A qualified intermediary will be engaged to conduct an audit and valuation of the subsidiary prior to the transfer [2] Group 2: Financial Details - As of August 31, 2025, Fenghua Electronics reported a negative net asset value of -5.72 million yuan, with an assessed value of -1.95 million yuan [2] - The minimum transfer price for the equity is set at 1 yuan, given the negative net asset situation [2] - Fenghua Electronics owes the company 43.82 million yuan in loans, and the transfer will require the buyer to assume part of this debt, with the company waiving 1.95 million yuan of the owed amount [2]

Core Viewpoint - The company is divesting its wholly-owned subsidiary, Fenghua Electronics, due to ongoing losses and competitive pressures in the crystal resonator market, with the decision approved by the board on October 29, 2025 [1] Group 1: Company Actions - The company will publicly transfer 100% equity of Fenghua Electronics and has authorized its management to handle the specifics of the transfer [1] - A qualified intermediary has been engaged to conduct an audit and valuation of the subsidiary prior to the transfer [2] Group 2: Financial Details - As of August 31, 2025, Fenghua Electronics reported a negative net asset value of -5.72 million yuan, with an assessed value of -1.95 million yuan [2] - The minimum transfer price for the equity is set at 1 yuan, given the negative net asset situation [2] - Fenghua Electronics owes the company 43.82 million yuan in loans, and the transfer will require the buyer to assume part of this debt, with the company waiving 1.95 million yuan of the owed amount [2]