Major asset restructuring in progress, multiple tasks still pending.

Wanxiang Qianchao announced that the company plans to issue shares and pay cash to purchase 100% equity of Wanxiang America Corp. held by Wanxiang America Corporation, and raise supporting funds, which constitutes a related party transaction and is expected to constitute a major asset restructuring. On April 30, 2024, the company signed an agreement with the trading party and the board of directors approved the relevant resolution. As of the disclosure date of the announcement, due diligence, audits, evaluations, and other work are in progress, and the transaction scheme is being negotiated, but formal documents have not been signed. This transaction still needs to be reviewed by the board of directors, the shareholders' meeting, approved by the Shenzhen Stock Exchange, and registered by the China Securities Regulatory Commission, so there is uncertainty.