KuLight Technology: All fixed-point projects related to LiDAR have been canceled.

Juguang Technology announced that the company recently received a notification from a well-known European automotive Tier1 customer AG company, stating that the planned launch of their laser radar for the terminal automotive customer has been officially canceled, resulting in the termination of the related component project. The terminal customer explicitly stated that this decision to cancel is based on their own strategic planning adjustment and is unrelated to AG company and its suppliers. The planned production time for the canceled project was originally scheduled for 2026, with an estimated demand of about 500,000 sets throughout the project lifecycle. About 2,700 sets have been delivered so far, and the project is still in the pre-production preparation stage. The company is currently in commercial negotiations with AG company, based on the terms of the agreement and international trade practices, regarding performance responsibilities, handling of unexecuted contract amounts, and other core issues related to the termination of the project. As of the date of this announcement, all laser radar-related designated projects disclosed by the company have been canceled. The company's business layout in the direction of laser radar in the past has not achieved the expected results. As of the third quarter of 2025, the revenue from the laser radar business accounted for about 0.81% of the company's total revenue. The company will continue to monitor industry dynamics and plan future business directions cautiously.