Gelonghui, Feb. 26 | Wanji Technology (300552.SZ) announced that the company held the 39th meeting of the fourth board of directors on February 26, 2024 to review and pass the “Proposal on Cancelling Guangzhou Joint Venture” and agreed to cancel Guangzhou Wanji Vehicle Networking Technology Co., Ltd. (hereinafter referred to as the “Joint Venture”). The cancellation of the subsidiary is within the approval authority of the board of directors of the company, and there is no need to submit it to the shareholders' meeting for consideration.
Since the joint venture was not able to actually carry out business as scheduled after its establishment, it was decided to cancel the joint venture after agreement with the joint venture party in order to optimize resource allocation, streamline the organizational structure, and reduce management costs.