Core Viewpoint - The company has made significant governance changes, including the cancellation of the supervisory board, amendments to its articles of association, and a capital increase, which are aimed at enhancing operational efficiency and aligning with its new status as a publicly listed company [2][43]. Group 1: Board Meeting and Resolutions - The first board meeting of the company was held on November 10, 2025, with all five directors present, confirming the legality of the meeting [1][4]. - The board approved the cancellation of the supervisory board and the amendment of various governance documents, which will take effect upon shareholder approval of the new board election [2][44]. - The board also approved a capital increase from RMB 384.529321 million to RMB 437.029321 million, changing the company type to "publicly listed company" [7][45]. Group 2: Governance Changes - The company confirmed the cancellation of the supervisory board, with its functions being transferred to the audit committee of the board [46]. - Amendments to the articles of association and other governance documents were approved, which will take effect after the election of the new board [48][49]. Group 3: Board Elections - The board proposed candidates for the second board, including three non-independent directors and two independent directors, pending shareholder approval [9][14]. - The voting results for the nominations were unanimous in favor, with no objections [10][16]. Group 4: Financial Management - The company plans to use RMB 274.45 million of raised funds to replace pre-invested self-raised funds in projects and RMB 8.75 million for issuance costs, complying with regulations [21][34]. - The total amount raised from the public offering was RMB 896.7 million, with a net amount of RMB 803.16 million after deducting issuance costs [34][44]. Group 5: Capital Expenditure and Projects - The board approved a capital expenditure plan of RMB 300 million for the period until December 31, 2026, focusing on fixed asset procurement and improvements [28]. - The company will invest in an AI computing high-end printed circuit board expansion project, with the authority to manage the project delegated to the general manager [25].