Core Points - The company has approved the establishment of the "Tebian Electric Receivables Phase 2 Asset-Backed Special Plan (Technology Innovation)" with a total asset-backed securities scale not exceeding 5 billion RMB [1] - The plan has received full subscription for both senior and subordinated asset-backed securities, with actual subscription amounting to 1,721.50 million RMB, reaching the targeted fundraising scale [1] - The special plan is set to officially establish on December 2, 2025 [1] Summary by Sections - **Announcement of Asset Securitization**: The board of directors and all directors guarantee the announcement's content is free from false records, misleading statements, or significant omissions [1] - **Approval and Scale**: The board meeting and the annual shareholders' meeting approved the receivables asset securitization proposal, allowing the wholly-owned subsidiary to conduct this business [1] - **Subscription Details**: The special plan has achieved the agreed fundraising scale, with full subscription confirmed [1]