Jinhua Chunguang Technology's wholly-owned subsidiary Shangteng Industry signed a construction and design contract to meet the factory building needs of production and operation in Vietnam.

Jinhua Chunguang Technology (603657.SH) announced that its wholly-owned subsidiary, Shangteng (Vietnam) Industrial Co., Ltd. (referred to as "Shangteng Industrial"), has selected Dongyuan Architectural Design Co., Ltd., a local company in Vietnam, as the contractor for the construction of the factory and supporting buildings for the clean electrical appliance production base project in Vietnam. After open bidding and negotiations, the two parties signed the "Construction Contract" and "Interior Design Contract" on November 15, 2024. The total price of the "Construction Contract" is 6,832.66 billion Vietnamese dong (approximately RMB 195 million); the total price of the "Interior Design Contract" is 1.78 billion Vietnamese dong (approximately RMB 50.72 million), calculated based on an exchange rate of 1 RMB equal to 3,509 Vietnamese dong. The selection of the construction contractor for the factory construction by Shangteng Industrial was finalized after open bidding and negotiations. The signing of the construction and design contracts is beneficial for the implementation of the project and will meet the company's future production and operation needs in Vietnam, enhancing the company's overall strength in overseas business, and is in line with the company's long-term development needs.