ARM Technology responded to the industrial and commercial registration change: No relevant company resolution has ever been made

Today (29th), ARM Technology (China) Co., Ltd. announced that its board of directors passed a unanimous resolution in accordance with the company's articles of association and relevant laws and regulations to appoint Mr. Liu Renchen and Mr. Chen Xun as co-CEOs of ARM China and completed the industrial and commercial registration in accordance with the law.

In response to this, Arm Technology made the following response:

The Company noticed today that the industrial and commercial registration with the Shenzhen Administration for Market Regulation showed changes in the members of the Company's board of directors, legal representative and general manager.

It must be pointed out that for a long time before this industrial and commercial change registration, the company had already had disputes over the replacement of board members and was in the process of legal proceedings, which means that the company is unable to hold and form an effective company resolution at this stage. In fact, the company has never held any board meetings regarding the aforementioned changes, nor has it made any relevant company resolutions. The company has also never submitted the aforementioned industrial and commercial change registration application to the Shenzhen Municipal Market Supervision Administration.

The Company has every reason to believe that the industrial and commercial registration change procedures accepted by the Shenzhen Municipal Administration for Market Regulation have major legal flaws. The Company will take legal measures in accordance with the law to safeguard its legitimate rights and interests.