Yuan Cheng Cable Co., Ltd. announced that it has entered into Share Subscription Agreement with returning investor Wuxi Suxin Industry Optimization Adjustment Investment Partnership Enterprise (Limited Partnership) to issue 91,614,906 A shares at an issue price of CNY 3.22 per share for the gross proceeds of CNY 294,999,997.32 on May 31, 2024. At present, Wuxi Suxin Industry Optimization Adjustment Investment Partnership Enterprise (Limited Partnership) holds 18.11% stake, and will increase its holdings to 27.38%. The shares cannot be transferred within 36 months from the issuance closing date.

The transaction has been approved in the 12th Meeting of the Company?s 5th Directorate and the 8th Meeting of the 5th Supervisory Board, and is subject to the approvals of the Company?s Shareholders, other competent authorities that may be involved in accordance with the state-owned assets supervision regulations, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.