I. Transaction Overview
Hangzhou Yitong New Materials Co., Ltd. (hereinafter referred to as "the Company" or "Yitong New Materials") held the fourth meeting of the third board of directors and the fourth meeting of the third board of supervisors on June 20, 2025, where it approved the proposal to acquire 50% equity of Hangzhou Hutang Power Distribution Co., Ltd. (hereinafter referred to as "Power Distribution Company" or "Target Enterprise") through public transfer. The Company will use its own funds to participate in the 50% equity transfer project of the Power Distribution Company, with the reference price based on the minimum transfer price. The bidding amount will be determined within the decision-making scope of the board of directors according to the bidding situation, and the management team is authorized to handle the public transfer, sign relevant agreements, and manage equity changes. For details, please refer to the announcement disclosed by the Company on June 20, 2025, on the Giant Tide Information Network (http://www.cninfo.com.cn) titled "Announcement on the Proposal to Acquire 50% Equity