Industrial Fulian: Last year's significant increase in inventory was a result of strategic capital allocation, not operational issues.

Inve Relations Activities Record of the 2025 Performance Meeting of Industrial Fulian, "The company's inventory has increased significantly, mainly due to the strategic capital occupation brought by the rapid growth of the AI business, rather than operational issues. In 2025, the company's AI server business achieved explosive growth. In order to ensure smooth production and delivery of products, we have prepared raw materials in advance. Secondly, in 2025, the company's asset-liability ratio maintained at a reasonable level of 63%, with manageable financial leverage and sufficient debt repayment ability, there is no liquidity risk."