Biwin Storage Subsidiary to Invest in Genori Tech IPO, Allocating 20.86 Million Yuan

Stock News06-10

Biwin Storage Technology Co.,Ltd. (ASX: 688525) has announced that its wholly-owned subsidiary, Hainan Nanbaisuan Technology Co., Ltd., intends to use its own funds to participate in the strategic investor placement for the initial public offering of Chongqing Genori Technology Co., Ltd. (ASX: 688797) on the Shanghai Stock Exchange's Sci-Tech innovation board.

The subsidiary plans to be allocated 468,200 shares with a total investment value of 20.8606 million yuan. According to the announcement, as of the disclosure date, the company's related party, the National Integrated Circuit Industry Investment Fund Phase II, holds a 3.94% stake in Genori Technology.

Consequently, upon completion of this external investment, it will constitute a joint investment with a related party, classifying the transaction as an affiliated one.

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