Fenghan Group: Intends to publicly list and transfer 60% equity of Suzhou Jingying Optoelectronic Technology Co., Ltd.

Fengfan Corporation announced that the company plans to publicly list and transfer 60% of the equity of Suzhou Jingying Optoelectronic Technology Co., Ltd. at a base price of 179 million yuan on the Jiangsu Provincial Property Exchange. The company's related party, Tianjin Xiyao New Energy Partnership Enterprise, intends to participate in the auction. This transaction may constitute a related party transaction, has been reviewed by the board of directors and a special meeting of independent directors, and still needs to be submitted to the shareholders' meeting for approval. After the transaction is completed, the company will no longer include Jingying Optoelectronics in its consolidated financial statements.