Hoymiles Power Electronics Inc. (688032.SH) controlling shareholder plans to increase its holdings of the company's shares by 111.5 million to 223 million yuan.

Hoymiles Power Electronics Inc. (688032.SH) announced that the company's controlling shareholder, Hangkai Holdings Group Co., Ltd. (referred to as "Hangkai Group"), plans to increase its holdings of the company's shares within 6 months from the date of disclosure of the announcement through stock increase special loans and its own funds in a manner allowed by the Shanghai Stock Exchange (including but not limited to centralized bidding and block trading). The increase amount will be no less than RMB 111.5 million and no more than RMB 223 million. There is no price range set for this increase plan, and Hangkai Group will implement the increase plan opportunistically based on the overall market trend and reasonable judgment of the company's value within the implementation period. CITIC BANK Hangzhou Branch has committed to provide a special loan of up to RMB 200 million to Hangkai Group, with a loan term of 3 years.