Core Viewpoint - The company plans to issue H shares and list them on the Hong Kong Stock Exchange to enhance its capital strength, competitiveness, and international brand image, aligning with its global strategy [2][3][4]. Group 1: H Share Issuance - The Supervisory Board approved the proposal for the issuance of H shares, which will be listed on the Hong Kong Stock Exchange [1][2]. - The issuance aims to meet the needs of the company's international business development and does not harm the interests of shareholders, especially minority investors [2][3]. - The proposed H shares will have a nominal value of RMB 1 and will be offered in foreign currency [2][4]. Group 2: Issuance Plan and Approval - The issuance plan includes both public offerings in Hong Kong and international placements to qualified institutional investors [3][4]. - The final issuance scale will be determined based on market conditions and regulatory approvals, with a maximum of 15% over-allotment option [4][5]. - The pricing of the shares will be market-driven, considering existing shareholders' interests and investor acceptance [5][6]. Group 3: Fund Utilization - The funds raised from the issuance will be used for overseas factory construction, global capacity expansion, and working capital supplementation [9][10]. - The company will have the authority to adjust the specific use of the raised funds based on regulatory feedback and operational needs [10]. Group 4: Corporate Structure Changes - Following the issuance, the company will transition to a foreign-funded joint-stock company, which complies with relevant laws and regulations [7][8]. - The validity period for the resolutions related to the issuance is set for 24 months from the date of approval by the shareholders' meeting [8][12]. Group 5: Previous Fund Usage and Auditing - The Supervisory Board reviewed and approved the report on the usage of previously raised funds, confirming compliance with regulations and no misappropriation of funds [9][10]. - The company has appointed an auditing firm for the H share issuance process [11].

Group 1 - The company held its 19th meeting of the 6th Board of Directors on June 6, 2025, with all 8 directors present, including one participating via communication [2][4] - The Board approved the proposal to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and capital operations [3][21] - The proposal requires further approval from the shareholders' meeting through a special resolution [5][20] Group 2 - The H-shares will have a nominal value of RMB 1.00 and will be issued in foreign currency [6] - The issuance will occur within 24 months after the shareholders' approval, with the timing determined by market conditions [8] - The issuance method includes public offerings in Hong Kong and international placements, with specific regulations governing the process [9] Group 3 - The total number of H-shares issued will not exceed 15% of the company's total share capital post-issuance, with an option for an additional 15% for over-allotment [11] - The target investors for the H-shares include global institutional investors and qualified domestic institutional investors [13] - The pricing of the H-shares will be determined based on market conditions and investor demand [15] Group 4 - The Board approved the use of proceeds from the H-share issuance for enhancing AI research capabilities, global business expansion, and marketing efforts [41] - The company plans to distribute retained earnings to both existing and new shareholders post-issuance [45] - The company will change its business scope and registered capital to align with its strategic adjustments [49] Group 5 - The Board proposed to revise the company's articles of association and related governance rules to comply with new regulations and the upcoming H-share issuance [52][54] - The company will appoint Tianzhi Hong Kong Accounting Firm as the auditor for the H-share issuance [59] - The Board will establish a confidentiality and document management system related to the H-share issuance [63] Group 6 - The Board confirmed the roles of directors following the H-share issuance, with specific designations for executive, non-executive, and independent directors [68] - The Board adjusted the membership of its specialized committees to align with the H-share issuance requirements [72] - The company will appoint joint company secretaries to facilitate communication with regulatory bodies in Hong Kong [78]