Group 1 - The fifth meeting of the board of directors of Zhejiang Haikong Nanke Huatie Smart Technology Co., Ltd. was held on September 19, 2025, with all 9 directors present, confirming the legality and validity of the meeting [2][4] - The board approved the establishment of a confidentiality and archive management system for overseas issuance of securities and listing, in compliance with relevant laws and regulations [2][3] - The board also approved a proposal to pledge accounts receivable not exceeding RMB 900 million to obtain financing from Zheshang Bank Co., Ltd. Hangzhou Branch, with the pledge amount being reusable within one year [5][9] Group 2 - The financing through accounts receivable pledge aims to enhance the company's asset utilization and management efficiency while reducing financing costs [11][12] - The cooperation bank, Zheshang Bank Hangzhou Branch, is a commercial bank with good credit status and no existing relationships with the company that could pose conflicts of interest [11]

Core Viewpoint - The company plans to pledge up to 900 million yuan of accounts receivable to Zheshang Bank Hangzhou Branch for financing purposes, which will support business development and optimize financial structure [1] Financing Details - The pledged amount of 900 million yuan can be reused and is valid for one year from the date of approval by the board of directors [1] - The financing is intended to meet the company's daily funding needs and reduce financing costs [1] Corporate Governance - The proposal was approved during the 18th meeting of the company's fifth board of directors, falling within the board's approval authority [1] - Zheshang Bank Hangzhou Branch has a good credit rating and no other relationship with the company [1]