Core Viewpoint - The company plans to issue H shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and brand recognition [1][2][3] Meeting Details - The second supervisory board meeting was held on August 7, 2025, with three supervisors present, and the meeting complied with relevant laws and regulations [1] - The meeting was chaired by Mr. Zeng Ziyun, the chairman of the supervisory board [1] Resolutions Passed - The supervisory board approved the proposal to issue H shares and apply for listing on the Hong Kong Stock Exchange [1][2] - The proposal requires approval from the China Securities Regulatory Commission and the Hong Kong Stock Exchange [2] Listing Details - The H shares will be ordinary shares with a par value of RMB 1.00, issued in foreign currency [2] - The issuance will occur within 24 months after the shareholders' meeting approval or an extended period agreed by shareholders [2][4] Issuance Method - The issuance will include both public offerings in Hong Kong and international placements [3][6] - The issuance scale will not exceed 15% of the total share capital before the issuance [4] Pricing and Allocation - The pricing will consider existing shareholders' interests and market conditions, determined by the board and underwriters [4][6] - The allocation will prioritize cornerstone and strategic investors, with a mechanism for oversubscription [6] Fund Utilization - Proceeds from the issuance will be used for product development, global sales expansion, business development, and working capital [9][10] Professional Advisors - The company will appoint various professional advisors, including underwriters and legal counsel, through competitive bidding [8][11] Insurance and Audit - The company plans to purchase liability insurance for directors and officers, as well as for the prospectus [10] - Ernst & Young will be appointed as the auditing firm for the issuance [11]