Core Viewpoint - Fujian Wancheng Biotechnology Group Co., Ltd. plans to issue H shares and apply for listing on the Hong Kong Stock Exchange to enhance its international strategy, brand recognition, and overall competitiveness [1][2]. Group 1: Meeting Details - The 31st meeting of the 4th Supervisory Board was held on August 22, 2025, with all three participating supervisors present [1]. - The meeting was conducted in accordance with the Company Law and the company's articles of association [1]. Group 2: H Share Issuance Proposal - The Supervisory Board approved the proposal for issuing H shares and listing on the Hong Kong Stock Exchange, with a unanimous vote of 3 in favor [2]. - The shares will be ordinary shares with a par value of RMB 1, issued in foreign currency [2]. Group 3: Issuance Method and Scale - The issuance will include both public offerings in Hong Kong and international placements, with the total number of H shares not exceeding 15% of the company's total share capital post-issuance [3][4]. - The pricing will be determined based on market conditions and investor acceptance, utilizing a market-oriented pricing approach [4]. Group 4: Fund Utilization Plan - The funds raised will be used for store network expansion, product development, brand building, supply chain upgrades, digital capabilities enhancement, and general corporate purposes [8]. - The Board is authorized to adjust the use of funds based on regulatory feedback and operational needs [8]. Group 5: Approval and Compliance - The issuance plan requires approval from the shareholders' meeting and must comply with relevant regulations from the China Securities Regulatory Commission and the Hong Kong Stock Exchange [2][6]. - The validity period for the resolutions related to the issuance is set for 24 months from the date of approval by the shareholders' meeting [9]. Group 6: Additional Proposals - The Supervisory Board approved the proposal for the distribution of retained earnings before the issuance, ensuring that both existing and new shareholders share the profits proportionally after the issuance [10]. - The Board also approved the hiring of an auditing firm for the issuance process, specifically FuRui MaZe Accounting Firm [10].

Meeting Overview - The second meeting of the Supervisory Board of Shanghai Huhui Optoelectronics Co., Ltd. was held on August 14, 2025, with all 7 supervisors present, confirming the legality and validity of the meeting procedures [1] - The meeting was chaired by Mr. Ying Xiaoming, and the notice was sent to all supervisors on August 4, 2025 [1] Financial Reporting - The preparation and review process of the 2025 semi-annual report complies with relevant laws and regulations, accurately reflecting the company's financial status and operational results [1] - The report contains no false records, misleading statements, or significant omissions [1] Fund Management - The management and actual use of raised funds for the first half of 2025 comply with legal regulations, with no violations or misappropriations reported [2] - The special report on the management and use of raised funds accurately reflects the actual situation [2] Fund Replacement - The company plans to use its own funds to pay for project investments and will subsequently replace them with raised funds, which is in line with regulatory requirements [3] - This approach aims to enhance operational management efficiency without harming shareholder interests [3] Cash Management - The company intends to use a maximum of RMB 300 million of temporarily idle raised funds for cash management within 12 months, ensuring it does not conflict with investment project implementations [4] - This decision is expected to improve fund utilization efficiency and yield good returns [4] Supervisory Board Changes - The company plans to abolish the Supervisory Board, transferring its powers to the Audit Committee of the Board of Directors, pending shareholder approval [5] - Corresponding amendments to the company's articles of association and meeting rules have been drafted [5]

Group 1 - The company held its 16th meeting of the second board of directors on July 11, 2025, with all seven directors present, and the meeting was conducted in accordance with legal and regulatory requirements [2][4] - The board approved the proposal to abolish the supervisory board, transferring its powers to the audit committee of the board, and revised the company’s articles of association accordingly [3][5] - The board proposed to authorize the management to handle the necessary business registration related to the amendments to the articles of association [3][5] Group 2 - The board approved the proposal for the company to issue H-shares and list them on the Hong Kong Stock Exchange to enhance competitiveness and utilize international capital markets [8][11] - The specific plan for the H-share issuance includes listing on the main board of the Hong Kong Stock Exchange, with shares having a par value of RMB 1.00 [13][15] - The issuance will be conducted through public offerings in Hong Kong and international placements, with a maximum of 15% of the total share capital available for issuance [19][22] Group 3 - The board agreed on the use of proceeds from the H-share issuance for research and development of AI-related technologies, expanding product applications, and general corporate purposes [34][36] - The board proposed that the resolutions related to the H-share issuance will remain valid for 24 months from the date of approval by the shareholders' meeting [38][56] - The board approved the establishment of a confidentiality and archival management system related to the overseas issuance of securities [68][69] Group 4 - The company appointed Tianzhi Hong Kong Certified Public Accountants as the auditing firm for the H-share issuance and subsequent annual audits [70][73] - The board proposed to authorize the management to negotiate the audit fees with the appointed auditing firm [71]

Group 1: Business Adjustments - The company has reclassified its business sectors to better reflect its strategic positioning and industry trends, merging the original heat shrink materials and wire industries into the electronic communication sector, and the power and new energy vehicle sectors into the new energy power sector [2][3]. - Product names have been adjusted for clarity, with "electronic products" changed to "electronic materials" and "wire products" to "communication cables," while new energy products have been split into new energy vehicle products and wind power products [3]. Group 2: Financial Performance - The company reported significant growth in its operating performance for 2024 and Q1 2025, driven by increased R&D and market expansion efforts, resulting in revenue growth across electronic materials, communication cables, power products, and new energy vehicle products [4]. - Continuous improvements in automation, production efficiency, and product structure optimization have contributed to enhanced profitability [4]. Group 3: Product and Market Insights - The demand for high-speed communication cables is on the rise, with the company maintaining a high capacity utilization rate and adjusting production resources based on market trends and customer needs [4]. - The 224G high-speed communication cable product has stable yield rates and meets customer demands, with high entry barriers due to complex production processes and stringent quality control requirements [4][5]. Group 4: Strategic Initiatives - The company plans to issue H shares and list them to support its internationalization strategy, enhance its global brand image, and broaden financing channels for ongoing investments in technology R&D, capacity building, and overseas market expansion [5]. - Future investments will focus on addressing existing capacity bottlenecks, with potential acquisitions being evaluated based on strategic alignment, industry trends, and cost considerations [5].