Xinwanda: Wholly-owned subsidiary plans to invest 60 million RMB to establish a private equity fund.

Qinwangda announcement, its wholly-owned subsidiary Qianhai Hongsheng plans to jointly invest with Yuanzhi Energy Storage, New Energy Storage, and Honghua Energy to establish the Shenzhen Yuanzhi Hongxin Smart Energy Industry Investment Private Equity Fund Partnership Enterprise. The total subscribed capital of the fund is 300 million yuan, with Qianhai Hongsheng subscribing 60 million yuan, accounting for 20%. The fund will mainly invest in enterprises operating commercial and industrial energy storage power station projects in China. The source of this investment funds is from its own funds, and it will not have a significant adverse impact on the company's current and future financial condition and operating results.