Group 1 - The company has approved the issuance of H-shares and plans to list on the Hong Kong Stock Exchange to enhance its competitiveness and international brand image [3][5][26] - The board meeting was held on November 4, 2025, with all six directors present, and the meeting was deemed legal and effective [2][4] - The issuance of H-shares will involve a maximum of 14% of the total share capital post-issuance, with an option for an additional 15% for over-allotment [13][20] Group 2 - The H-shares will be ordinary shares with a par value of RMB 1.00, and the issuance will be conducted through public offerings in Hong Kong and international placements [8][11] - The funds raised will be used for product and service upgrades, market expansion, strategic investments, and working capital [28][48] - The board has proposed a profit distribution plan for retained earnings prior to the H-share issuance, ensuring that both existing and new shareholders benefit [32][33] Group 3 - The board has authorized the management to handle all matters related to the H-share issuance, including the selection of intermediaries and the finalization of the issuance plan [35][36] - The effective period for the resolutions related to the H-share issuance is set for 24 months, extendable upon obtaining necessary regulatory approvals [30][48] - The company will revise its internal governance documents to comply with the requirements of the H-share issuance and listing [53]