Guangdong Piano Scientific Artist Home Furnishings Co., Ltd.
Announcement of Resolutions of the Fourth Meeting of the Fifth Board of Directors
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or major omissions.
I. Convening of the Board Meeting
The Fifth Board of Directors of Guangdong Piano Scientific Artist Home Furnishings Co., Ltd. (hereinafter referred to as the "Company") held its fourth meeting on July 24, 2026, via communication. In accordance with the relevant provisions of the "Company Articles of Association," "Board of Directors Meeting Rules," and with the unanimous consent of all directors, the notice period requirement was waived for this board meeting. Nine directors were eligible to attend, and nine directors actually attended. Senior management personnel of the Company attended the meeting. The meeting was presided over by Chairman Mr. Xu Kai-xuan. The convening, holding, and voting procedures of the meeting comply with the relevant provisions of the "Company Law" and the "Company Articles of Association."
II. Deliberation and Resolution of the Board Meeting
After full discussion and deliberation by the attending directors, the meeting formed the following resolutions:
- The "Proposal on Adjusting the Company's 2025 Plan for Issuing A-shares to Specific Objects" was reviewed and approved item by item.
In accordance with the relevant laws, administrative regulations, departmental rules, and normative documents such as the "Company Law," "Securities Law," and "Administrative Measures for the Registration of Securities Issuances by Listed Companies," the Company has adjusted the plan for this private placement of A-shares (hereinafter referred to as "this issuance") based on its actual situation. The main adjustment content is as follows:
1.1 Pricing Benchmark Date, Issue Price, and Pricing Principles
Before adjustment:
The pricing benchmark date for this issuance by the Company was the date of the announcement of the resolution of the Fourteenth Meeting of the Fourth Board of Directors.
The issue price for this issuance of shares is RMB 11.43 per share, which is not less than 80% of the average daily trading price of the Company's shares in the twenty trading days prior to the pricing benchmark date (Average daily trading price of shares in the twenty trading days prior to the pricing benchmark date = Total trading volume of shares in the twenty trading days prior to the pricing benchmark date / Total trading volume of shares in the twenty trading days prior to the pricing benchmark date).
If any ex-rights or ex-dividend events, such as cash dividends, bonus shares, or capital reserve to bonus share conversion, occur during the period from the pricing benchmark date to the issuance date of this issuance, the floor price of this issuance will be adjusted accordingly. Assuming the floor price before adjustment is P0, the number of bonus shares or capital reserve to bonus shares converted per share is N, and the cash dividend per share is D, the adjusted floor price is P, calculated as follows:
Floor price after adjustment: P
Cash dividend per share: P1 = P0 - D
Bonus shares or capital reserve to bonus shares: P1 = P0 / (1 + N)
If there are both bonus shares and cash dividends: P1 = (P0 - D) / (1 + N)
The pricing principles for this issuance are in accordance with the "Administrative Measures for the Registration of Securities Issuances by Listed Companies" and other relevant laws and regulations.