Group 1 - The company plans to jointly invest with related party Mr. Bai Bing to establish Suzhou Zhuiguang Times Venture Capital Partnership (Limited Partnership) with a proposed capital contribution of RMB 201 million to 311 million [1] - The company will contribute RMB 200 million to 310 million in cash, holding approximately 99.50% of Zhuiguang Times, while Mr. Bai Bing will contribute RMB 1 million, holding about 0.50% [1] - Zhuiguang Times is planning to increase its investment in Guangzi Suanshu (Nanjing) Technology Co., Ltd. by RMB 201 million to 311 million, holding equity in Guangzi Suanshu without controlling it [1] Group 2 - Guangzi Suanshu focuses on the construction and delivery of optical interconnection computing power cluster systems, achieving full-process domestic production for the optical electronics industry and domestic computing power construction [2] - The company has completed adaptations with several domestic AI chips, enabling high-speed interconnection between accelerator cards, thus constructing optical interconnection supernodes and cluster products [2] - The planned capital increase to Guangzi Suanshu will help the company achieve key technology autonomy, enhance computing power performance and customer experience, and expand high-value-added scenarios [2]

Core Viewpoint - The company plans to establish a joint venture, Suzhou Zhuiguang Times Venture Capital Partnership, with an investment of 201 million to 311 million yuan, primarily to enhance its stake in Photon Computing (Nanjing) Technology Co., Ltd. [1] Group 1: Investment Details - The proposed investment amount for Zhuiguang Times is between 201 million and 311 million yuan, with the company contributing 200 million to 310 million yuan, holding approximately 99.5% of the partnership [1] - The partnership aims to increase its capital in Photon Computing by the same amount, 201 million to 311 million yuan [1] Group 2: Business Focus - Photon Computing specializes in the construction and delivery of optical interconnection computing cluster systems, providing a fully domestic solution for the optical electronics industry and domestic computing power construction [1] - The technology developed by Photon Computing overcomes the limitations of traditional electrical interconnection, effectively reducing transmission latency and improving computing power utilization [1]