Asia Pacific Industries: Recapitalization of Capital Reserves to Increase Share Capital, Proposed Adjustment of Ex-rights Reference Price Formula

Asia Pacific Industries announced that on July 10, 2025, Wan Shun in Guangzhou applied for the bankruptcy reorganization and pre-reorganization of the company. On November 26, the Lanzhou Intermediate People's Court accepted the reorganization application. As of December 6, the company received a cash donation of 73 million yuan from reorganization investors. Based on 323 million shares, the company will issue 1.62 billion shares after a 2-for-1 stock split, increasing the total share capital to 485 million shares. This implementation of capital surplus transfer to share capital is intended to adjust the formula for calculating ex-right reference prices. If the closing price on the registration date is higher than 2.95 yuan/share, the opening reference price will be adjusted according to the adjusted formula. The financial advisor believes that the adjustment formula is reasonable.