Zhongfutong: Holding subsidiary Yingboda intends to invest 91.8 million yuan to establish a holding subsidiary Sunke Technology.

Announcement from Zhongfutong Corporation: Its subsidiary, Shenzhen Yingboda Technology Co., Ltd., plans to jointly invest with Zhejiang Dream Factory Incubator Co., Ltd. and Fuzhou Minhou Xuhang Co-Creation Industrial Investment Partnership Enterprise to establish Hangzhou Sunk Shell Technology Co., Ltd. Sunk Shell Technology has a registered capital of 180 million yuan, with Yingboda subscribing 91.8 million yuan, holding 51%; Dream Factory subscribing 61.2 million yuan, holding 34%; Xuhang Investment subscribing 27 million yuan, holding 15%. This investment has been approved by the company's board of directors and is still pending approval from the shareholders' meeting. This investment does not constitute a major asset restructuring and will not have any adverse impact on the company's financial and operating conditions.