*ST Gaosheng (000971): Progress In The Acquisition Of Hua Qi Communications Transactions

Stock Code: 000971 securities short: *ST, Gao Sheng Announcement No.: 2020-40

Gaosheng Cmi Holdings Ltd's announcement on the acquisition of Hua Qi communications transaction matters

All members of the company and the board of Directors ensure that the contents of the announcement are true, accurate and complete, without false records, misleading statements or major omissions.

Gaosheng Cmi Holdings Ltd (hereinafter referred to as the "company") issued a notice on the acquisition of Hua Qi communications transactions in the designated information disclosure media in April 25, 2020 (Bulletin number: 2020-25). The progress in the acquisition of Beijing Hua Qi Communications Technology Co., Ltd. (hereinafter referred to as "Hua Qi communications") is as follows:

I. major asset restructuring

In May 2, 2018, the company received the approval issued by the China Securities Regulatory Commission (CSRC) on Approving the purchase of assets and raising matching funds by the Gaosheng Cmi Holdings Ltd to Liu Feng Qin and other shares issued by the securities and Futures Commission (SFC [2018]757), and former permitted company to the original shareholders of Beijing Hua Qi Communications Technology Co., Ltd. (hereinafter referred to as "the original shareholder of Hua Qi"), Liu Fengqin, and 55 natural persons and Jun Feng. Huayi emerging industries investment fund (hereinafter referred to as "Junfeng fund") purchased 99.997% stake in Hua Qi communications through issuing shares and paying cash. The original shareholders of the company and Hua Qi communications signed the agreement on the issue of shares and the payment of assets for cash in December 11, 2017, and the supplementary agreement for the issuance of shares and the payment of assets for cash in January 16, 2018. The agreement stipulated that 55% (505 million 434 thousand and 800 yuan) of the total consideration should be paid by the company issuing shares, and the other 45% (41). 3 million 534 thousand and 800 yuan) paid by the company in cash.

In June 12, 2018, Dongcheng Branch of Beijing Administration for Industry and Commerce approved the change of shareholders of Hua Qi communications. The 99.997% stake in Hua Qi communications held by the other party was transferred to the top.

Under the name of the city company.

Two, the progress of the payment of equity to the price.

Before April 27, 2020, the company paid its original shareholders' Arrears totaling 40 million 560 thousand yuan with its own funds, except for five shareholders such as the Junfeng fund. The balance was paid when the personal income tax was paid.

At this point, except for the Junfeng fund and the other four shareholders of Hua Qi communications, signed a supplementary agreement on the issue of shares and the agreement to pay cash for the purchase of assets which was deferred payment, two of the remaining shareholders of the company were paid the remaining share price. In accordance with the agreement on the issue of shares and the payment of cash to purchase assets, the company will pay in accordance with the agreement of the five supplementary agreements (two) of the agreement on the issue of shares and the purchase of assets in cash.

Notice hereby

Gaosheng Cmi Holdings Ltd board of directors

Two O two O May 8th