Announcement on the "Quality and Return Enhancement" Action Plan
The Company and all members of its Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and do not contain any false representations, misleading statements, or material omissions.
In response to the Central Political Bureau's call to "activate the capital market and boost investor confidence" and the State Council's executive meeting's directive to "vigorously enhance the quality and investment value of listed companies, and take more forceful and effective measures to stabilize the market and confidence," and to safeguard the interests of all shareholders, enhance investor confidence, and promote the company's long-term healthy and sustainable development, GGEEC Co., Ltd. (hereinafter referred to as the "Company") has formulated the "Quality and Return Enhancement" Action Plan. This Action Plan has been deliberated and approved by the 25th meeting of the 11th Board of Directors. The specific measures are as follows:
I. Focus on Core Business, Solidify Development Foundation
The Company's core technology is acoustics, with comprehensive development in DSP, electronic hardware, simulation, software, Wi-Fi, and Bluetooth wireless technologies, focusing on the design, manufacturing, and sales of acoustic and electroacoustic components. The Company's main businesses are acoustic and electroacoustic products and lithium battery business. The Company's acoustic and electroacoustic products are divided into four major categories: traditional audio, smart hardware, automotive audio, and professional audio. Traditional audio products include: speakers, Bluetooth speakers, traditional headphones, computer peripheral audio, Wi-Fi speakers, soundbars, etc.; smart hardware products include: smart speakers, smart glasses, smart headphones, VR/AR products, etc.; automotive audio products include: in-car amplifiers, AVAS, in-car speakers, subwoofers, etc.; professional audio products include: musical instrument audio, high-power active speakers, POE speakers, etc. The lithium battery business primarily involves polymer lithium-ion batteries, which can be used in headphones, smart audio, wearable devices, e-cigarettes, drones, and other products.