Core Viewpoint - The company is progressing on the MED project as planned, with key imported equipment arriving and installation underway [1] Group 1: Project Implementation - The MED project, invested in by Zhejiang Laibo Display Technology Co., Ltd., is being implemented according to schedule, with core imported equipment arriving in batches and entering the installation and debugging phase [1] - The government is concurrently constructing the factory and supporting facilities, as well as the modular factory and warehouse [1] Group 2: Capital Contribution - Shareholders of Laibo Display have completed their capital contributions as per the joint venture agreement, with a total registered capital of RMB 550 million by the end of 2025 [1] - The second phase of registered capital, amounting to RMB 83.74 million, was confirmed by all shareholders and contributed in the form of intellectual property rights [1] Group 3: Financing - A syndicate loan agreement was signed on September 19, 2024, with a total loan amount not exceeding RMB 3.5 billion for fixed assets [1] - As of September 30, 2025, Laibo Display has utilized RMB 56.39 million from the syndicate loan, with plans to gradually increase the use of the loan based on project progress [1]

Core Viewpoint - The company is progressing with the MED project according to plan, with core imported equipment arriving in batches and ongoing installation and debugging work [1] Group 1: Project Overview - The MED project has a total planned investment of 9 billion RMB, with 8.3 billion RMB allocated for construction investment and 700 million RMB for working capital upon reaching production [1] - The construction investment primarily consists of equipment investment, estimated at approximately 7.3 billion RMB, subject to final procurement amounts [1] Group 2: Project Timeline and Uncertainties - The project construction period is expected to last 2 years, and the company aims to advance the MED project steadily to achieve early and smooth production [1] - The actual progress of the MED project is influenced by multiple factors, including equipment arrival, installation and debugging, technology, and capacity ramp-up, which introduces a degree of uncertainty [1]