: Major asset restructuring work is in progress.

Wanxiang Qianchao announced that the company plans to purchase 100% equity of Wanxiang America Corp. held by Wanxiang America Corporation through the issuance of shares and payment of cash, and to raise matching funds. This transaction constitutes a related-party transaction and is expected to constitute a significant asset restructuring, but not a restructuring public listing. As of the date of the announcement, due diligence, audits, evaluations, etc. are ongoing, the transaction scheme is still under further negotiation, and the parties involved have not signed formal transaction documents. This transaction still needs to go through multiple procedures, and the approval and timing are uncertain.