Summary by Moomoo AI
YAOXING TECHNOLOGY GROUP CO., LTD. (“YAOXING TECHNOLOGY”) ANNOUNCED AFTER THE TRADING SESSION ON JANUARY 5, 2024 THAT IT HAS SIGNED A MEMORANDUM OF UNDERSTANDING WITH HEBEI TEA TEA TECHNOLOGY INNOVATION GROUP CO., LTD. (“ONE TEAPOT TECHNOLOGY”), WHICH PLANS TO ACQUIRE SHARES IN TEAPOT TECHNOLOGY BY INVESTMENT OR TRANSFER OF EQUITY. The Memorandum of Understanding provides the parties with an exclusive consultation period of three months, during which teapot technology may not be discussed with other parties. Starburst Technology will conduct a due diligence review of the teapot technology and is expected to be completed within three months. If the results of the due diligence are satisfactory and the parties agree on the terms and conditions of the formal agreement, a legally binding...Show More