Heshun Petroleum: intends to acquire 35.1105% equity of Kui Xin Technology for 540 million yuan.

According to the announcement of Heshun Oil, the company's wholly-owned subsidiary Hexinwei and Kui Xin Technology and its shareholders have signed an agreement to acquire Kui Xin Technology's equity corresponding to the contribution amount of $926,200 through capital increase and equity acquisition totaling 54 million RMB in cash, representing 35.1105% of Kui Xin Technology's equity after the transaction. The company will also be entrusted to exercise the voting rights corresponding to the 16.0000% equity of MS2 Technology Limited and XCI Holding Limited, taking a total of 51.1105% of the voting rights and gaining control of Kui Xin Technology. After the completion of the transaction, Kui Xin Technology will become a subsidiary of Heshun Oil.