Shanghai Yanpu: Plans to invest 20 million yuan to establish a controlling subsidiary and related party transactions.

Shanghai Yanpu announced that the company plans to establish Shanghai Yanpu Zhiheng Technology Co., Ltd. in partnership with Pu Weidong and Shanghai Xiemu, with a registered capital of 20 million yuan. The company will contribute 11 million yuan, accounting for 55%; Pu Weidong will contribute 5 million yuan, accounting for 25%; and Shanghai Xiemu will contribute 4 million yuan, accounting for 20%. The funds will be used for core technology research and development. This transaction constitutes a related party transaction, but does not constitute a major asset restructuring, and does not require approval by the shareholders' meeting. As of the date of the announcement, the joint venture agreement has not been signed, and there is uncertainty in the transaction.