Silver Power Transmission Technology Co., Ltd.
Announcement of the Resolution of the Seventh Meeting of the Fourth Board of Directors
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
I. Convening of the Board Meeting
The Seventh Meeting of the Fourth Board of Directors of Silver Power Transmission Technology Co., Ltd. (hereinafter referred to as the "Company") was held in the Company's meeting room on June 18, 2026. The notice of this board meeting was sent by email on June 15, 2026. The meeting was held in a combination of on-site and teleconference formats. Ms. Gan Beiyi, Mr. Song Le, and Mr. Chen Shuning participated remotely via teleconference. The meeting was presided over by Chairman and President Mr. Li Xiang. A total of 7 directors were eligible to attend, and all 7 directors were present. The Company's Secretary of the Board was present at the meeting. The convening and holding of this meeting comply with relevant laws, administrative regulations, departmental rules, normative documents, and the Company's Articles of Association.
II. Deliberation of the Board Meeting
The voting at this meeting was conducted by written ballot. After careful deliberation by the attending directors, the following proposals were considered and approved at this meeting:
(I) Deliberation and Approval of the Proposal on Revising the Company's 2025 Plan for Issuing A-shares to Specific Targets
The Company's plan for issuing A-shares to specific targets is as follows:
- Type and Par Value of Shares to be Issued
The shares to be issued are RMB ordinary shares (A-shares) listed domestically, with a par value of RMB 1.00 per share.
Voting Result: 7 votes in favor, 0 votes against, 0 abstentions.
- Issuance Method and Time
The shares will be issued through a private placement of RMB ordinary shares (A-shares) to specific targets. The Company will implement the issuance at an appropriate time within the prescribed validity period after the Shenzhen Stock Exchange reviews and the China Securities Regulatory Commission (CSRC) approves the registration.
- Issuance Targets and Subscription Method
The issuance targets shall not exceed 35 specific investors, including securities investment fund management companies, securities companies, trust companies, financial companies, insurance institutional investors, qualified foreign institutional investors, and other legal persons, natural persons, or other qualified investors that meet the relevant laws and regulations. If a securities investment fund management company, securities company, qualified foreign institutional investor, or RMB qualified foreign institutional investor subscribes with more than two products managed by them, it shall be considered one issuance target. If a trust company is an issuance target, it can only subscribe with its own funds.
After the Shenzhen Stock Exchange review and CSRC registration approval, the Company's Board of Directors and its authorized personnel shall determine the final issuance targets through competitive bidding within the scope of authorization from the shareholders' meeting, in conjunction with the sponsor (underwriter), in accordance with relevant laws, regulations, and normative documents. If national laws and regulations introduce new provisions regarding the issuance targets for private placements, the Company will adjust accordingly.
All issuance targets for this issuance will subscribe for the shares in cash in RMB.