Core Viewpoint - The company, Kunshan Kesen Technology Co., Ltd., held its 23rd meeting of the 4th Board of Directors on November 25, 2025, where significant resolutions were passed regarding the appointment of a board secretary and a foreign investment project in Malaysia [2][5][15]. Group 1: Board Meeting Details - The board meeting was conducted in a hybrid format, combining in-person and communication methods, and was chaired by Chairman Xu Jingen [2]. - All 7 directors participated in the voting, with no dissenting or abstaining votes recorded [3][4]. - The meeting's convening and proceedings complied with relevant laws and the company's articles of association, ensuring the legality and validity of the resolutions [4]. Group 2: Resolutions Passed - The board approved the appointment of Ms. Wang Yaqian as the board secretary, with unanimous support from all directors [5][11]. - The board also approved a foreign investment proposal to establish a wholly-owned subsidiary in Malaysia, with unanimous support [7][13]. Group 3: Foreign Investment Overview - The company plans to invest $30 million to establish a subsidiary named Sentronics Precision Industry (M) Sdn. Bhd. in Johor, Malaysia, to meet overseas customer demands [15][16]. - The investment will be funded through the company's own resources, and the actual investment amount will depend on approvals from Chinese and local authorities [16][19]. - The subsidiary will focus on the research, production, and sales of precision metal components and related products [18]. Group 4: Operational and Structural Details - The Malaysian subsidiary will occupy approximately 21,486 square meters of land, which includes two existing factory buildings [18]. - The company will appoint or hire management personnel for the new subsidiary from within the company or externally [18]. - The investment does not constitute a related party transaction or a significant asset restructuring as per regulatory definitions [17].

Core Viewpoint - The article discusses the recent stock price surge of Jiahuan Technology and its clarification regarding its business operations, particularly in relation to the computing power concept, amidst market speculation [2][4][5]. Group 1: Jiahuan Technology - Jiahuan Technology's main business includes network construction services, operation services, ICT education training, and intelligent services for government and enterprises [3]. - The company has established a new subsidiary, Wuxi Jiahuan Intelligent Technology Co., Ltd., focusing on AI application software development and 5G communication services [3]. - Following a series of trading halts, Jiahuan Technology's stock price reached a recent high of 24.56 yuan per share, with a significant trading volume increase [4][5]. - The company clarified that it does not engage in data center investments or computing power leasing, and it has no business cooperation with relevant AI firms [5]. - Jiahuan Technology's 2024 profit forecast indicates a potential decline in net profit by approximately 40.73% to 60.13%, attributed to increased competition and rising costs [5][6]. Group 2: Financial Performance - The company expects a net profit of about 74 million to 110 million yuan for 2024, a decrease from the previous year [5]. - The anticipated decrease in profit is linked to rising procurement and labor costs, as well as increased credit impairment losses [5][6]. - The company will no longer benefit from a VAT reduction policy in 2024, further impacting its financial performance [6]. Group 3: Market Reactions - Other companies, such as Litong Electronics, also experienced stock price surges due to perceived connections to the computing power sector, despite clarifying their core business operations [7][8]. - Litong Electronics aims to develop its AI computing power business, indicating a strategic shift towards new growth areas [8]. - The article highlights the volatility in stock prices related to speculative trading in the computing power sector, urging investors to exercise caution [5][9].