Tianlong Group: intends to invest 50 million yuan to establish a wholly-owned subsidiary to engage in liquid cooling related business.

Tenglong Stock announces that the company plans to invest 50 million yuan to establish a wholly-owned subsidiary in Changzhou City, specializing in the research, development, production, and sales of liquid-cooled components and products for use in energy storage, servers, and other related fields. In addition, the company has agreed to waive its preemptive right to acquire 22.5% of the equity of its subsidiary Zhejiang Lichi RIO Environmental Technology Co., Ltd., in a restructuring of the shareholding structure between direct relatives, with no significant change in substantive interests.