Lake Electric: Intends to transfer 90% equity of its wholly-owned subsidiary Precision Machinery for 235 million yuan.

Lake Electric announced that the company has signed an equity acquisition letter of intent with Suzhou Chuangyuan Resource Recycling Co., Ltd., intending to transfer 90% of the equity held by its wholly-owned subsidiary Suzhou Jinlake Precision Machinery Co., Ltd. to Chuangyuan Resources. The total shareholder equity value of the target company as intended by both parties is 235 million yuan, subject to the actual evaluation price.