Jinggong Technology: intends to use the raised funds of 250 million yuan to invest in the Jinggong Composite Intelligent Manufacturing Base project.

Jinggong Technology Announcement: Jinggong Composite Materials Co., Ltd., a wholly-owned subsidiary of the company, plans to invest in the construction of the Jinggong Composite Materials Intelligent Manufacturing Base project in Hengdian Street, Huangpi District, Wuhan City, Hubei Province. The estimated total investment of the project is 426 million yuan, with 250 million yuan of funds raised. The project aims to create a high-end composite material intelligent manufacturing base integrating research and development, production, and sales, forming a carbon fiber composite new material product ecosystem, and promoting the structural optimization and transformation and upgrading of the new material industry in Wuhan City and even Hubei Province. The main sources of investment funds for the project are Jinggong Wuhan Composite's self-raised funds and the company's raised funds, which will not have a negative impact on the company's financial condition and operating results.