Wuhan Xinxin, a unit of Unigroup Group, is linked to the listed Xianglong Electric Company. On July 26, 2019, Xianglong Electric received a notice from the Management Committee of Wuhan East Lake New Technology Development Zone, the actual controller of Wuhan East Lake New Technology Development Zone, that the Management committee of Wuhan East Lake New Technology Development Zone is planning major asset restructuring matters involving the Company, and the company intends to purchase 100% of the shares of Wuhan New Core held by all shareholders of Wuhan New Core in the form of major asset replacement and share issuance. The transaction is expected to constitute a restructured listing.
Wuhan Xinxin was established in 2006 and put into operation in 2008. In 2016, on the basis of Wuhan New core, Unigroup Group, the National Integrated Circuit Industry Investment Fund, Hubei Integrated Circuit Industry Investment Fund and Hubei Science and Technology Investment Group jointly funded the establishment of Yangtze River Storage Technology Co., LTD., and Wuhan New Core was integrated into Yangtze River Storage as a whole and became a wholly-owned subsidiary of Yangtze River Storage.