1. Overview of the Partnership with Professional Investment Institutions
Jiangsu Lei Li Electric Co., Ltd. (hereinafter referred to as "the Company") and Jiangsu Power Investment Management Co., Ltd. (hereinafter referred to as "Power Investment") signed a partnership agreement on September 9, 2024, to establish a limited partnership named "Power Investment" and other related entities. The total investment amount is 38 million yuan, of which the Company will contribute 20 million yuan, accounting for 52.63%. Detailed content can be found in the announcement dated September 9, 2024, on the Cninfo website (http://www.cninfo.com.cn) regarding the establishment of the limited partnership (Announcement No.: 2024-074).
On September 11, 2024, Power Investment completed the registration of the commercial entity and obtained the business license. The detailed content can be found in the announcement dated September 11, 2024, on the Cninfo website (Announcement No.: 2024-075).
On November 8, 2024, Power Investment submitted the investment foundation application and received approval, and the Company announced this on January 11, 2025 (Announcement No.: 2025-001).