Luokai Group: Intends to transfer 51% equity of Quanzhou Qixing for 100 million yuan.

On the evening of May 30th, Lokai Group announced that after friendly negotiations with Qixing Group, Lokai Group plans to terminate the "Investment Cooperation Agreement" and its supplementary agreement with Qixing Group. At the same time, Lokai Group plans to acquire 42.50% equity of Lokai Electric held by Qixing Group at a price of 82.66 million yuan, and plans to transfer 51% equity of Quanzhou Qixing held by the company to Qixing Group at a price of 100 million yuan. Separate "Termination Agreement", "Equity Transfer Agreement of Jiangsu Lokai Electric Co., Ltd." and "Equity Transfer Agreement of Quanzhou Qixing Electric Co., Ltd." were signed on the above matters. After the completion of this transaction, Quanzhou Qixing will no longer be included in the company's consolidated financial statements.