1. Plan Adjustment Overview
Shenzhen Xichuang Co., Ltd. (hereinafter referred to as "Xichuang" or "the Company") approved the proposal regarding the capital increase plan for the controlling subsidiary at the 21st meeting of the 2025 Board of Directors held on November 21, 2025. The Company will fully acquire VINCREST HOLDINGS PTE. LTD. (hereinafter referred to as "VINCREST") and will invest 17 million USD in the subsidiary TeraHop Pte. Ltd. (hereinafter referred to as "TeraHop") for further development. The capital increase will be conducted through a private placement, and the details will be disclosed in the announcement regarding the capital increase plan (Announcement No. 2025-106).
2. Specific Share Allocation Plan After This Adjustment
1. Previous Shareholding Structure
| No. | Stock Name | Stock Type | Shareholding Amount | Shareholding Ratio |
|---|
| 1 | Suzhou Zhida Intelligent Technology Co., Ltd. | Limited Company | 80,000,000 | 67.70% |
| 2 | INFIEVO HOLDING PTE. LTD. | Limited Company | 20,000,000 | 16.93% |
| 3 | CDH GLOBAL PAPER LIMITED | Limited Company | 13,846,154 | 11.72% |
| 4 | DAWNTON CAPITAL LIMITED | Limited Company | 3,076,923 | 2.60% |
| 5 | DAZZLING DREAM HOLDINGS LIMITED | Limited Company | 769,231 | 0.65% |
| 6 | CHARMING TIME HOLDINGS LIMITED | Limited Company | 461,538 | 0.39% |
| Total | | 118,153,846 | 100.00% |
2. First Step Shareholding Structure After This Adjustment
| No. | Stock Name | Stock Type | Change Situation | Shareholding Amount | Shareholding Ratio |
|---|
| 1 | Suzhou Zhida Intelligent Technology Co., Ltd. | Limited Company | Increase | 80,000,000 | 61.67% |
| 2 | VINCREST HOLDINGS PTE. LTD. | Limited Company | Increase | 3,061,223 | 8.11% |
| 3 | INFIEVO HOLDING PTE. LTD. | Limited Company | Increase | 346,267 | 15.82% |
| 4 | CDH GLOBAL PAPER LIMITED | Limited Company | | 6,307,691 | 4.70% |
| 5 | DAWNTON CAPITAL LIMITED | Limited Company | | 2,153,848 | 1.60% |
| 6 | DAZZLING DREAM HOLDINGS LIMITED | Limited Company | | 769,231 | 0.57% |
| 7 | CHARMING TIME HOLDINGS LIMITED | Limited Company | | 461,538 | 0.34% |
| 8 | PLATINUM ORCHID B 2018 RSC LIMITED | Limited Company | | 559,174 | 4.63% |
| 9 | DAXUE INVESTMENTS PTE. LTD. | Limited Company | | 279,587 | 2.32% |
| Total | | | 129,717,280 | 100.00% |
3. Subsequent Shareholding Structure After This Adjustment