Dechang Corporation: The application for issuing stocks to specific entities has been approved by the Shanghai Stock Exchange.

Dechang Corporation Announcement: On November 6, 2025, the company received the Shanghai Stock Exchange's opinion on the review of the issuance of stocks to specific entities by Ningbo Dechang Electric Motor Co., Ltd., stating that the company's application to issue stocks to specific entities meets the issuance conditions, listing conditions, and disclosure requirements. The issuance of stocks to specific entities by the company is subject to approval by the China Securities Regulatory Commission before it can be implemented. The decision and timeline for obtaining approval from the China Securities Regulatory Commission are still uncertain.