Ocean Electric: Terminate External Investment in Jiaxing Shanghe Ancient Ancestral Equity Investment Partnership Enterprise

On December 12, Dayang Electric announced that on December 1, the company signed a "Jiaxing Shanghe Ancient Sect Equity Investment Partnership Agreement" with Beijing Shanghe Momentum Private Equity Fund Management Co., Ltd. and other limited partners. The company, as a limited partner, used its own funds to subscribe for 30 million yuan worth of fund shares of Shanghe Ancient Sect. According to the Partnership Agreement, Shanghe Ancient Sect was supposed to make a special equity investment in Benmo Power Technology Co., Ltd. However, the fund manager and the target company were unable to reach an agreement on the transaction plan, leading to the inability to achieve the investment objective of Shanghe Ancient Sect. After careful consideration by the fund manager, it was decided to terminate this project investment.