Ningbo Xiyue Zhixing Technology Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
According to the strategic development plan of Ningbo Xiyue Zhixing Technology Co., Ltd., in order to further enhance its comprehensive competitive advantage, the Company has established a wholly-owned subsidiary, Xiyue Zhixing (Hainan) R&D Co., Ltd. (hereinafter referred to as "Xiyue R&D"), with its own funds of 5 million yuan.
In accordance with the relevant provisions of the "Shenzhen Stock Exchange GEM Stock Listing Rules" and the "Articles of Association," the establishment of this wholly-owned subsidiary does not require submission for Board or Shareholder meeting review, does not involve related transactions, and does not constitute a major asset reorganization as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies."