Haixing Electric Power: Intends to acquire 80.9524% of the equity of Ningbo Zelian Technology Co., Ltd. for 605 million yuan.

Hai Xing Power announces that it intends to acquire 80.9524% of the equity of Ningbo Zelian Technology Co., Ltd. owned collectively by Zhou Liangzhang, Ningbo Jirui Enterprise Management Partnership Enterprise, Lishui Jude Enterprise Management Partnership Enterprise, Li Xiaoqing, and Zhou Junhe, through a cash transaction, with a transaction amount of 605 million yuan. After the completion of this transaction, Ningbo Zelian will become a wholly-owned subsidiary of the company and be included in the consolidated financial statements. This transaction constitutes a related party transaction and still requires approval from the company's shareholders' meeting.