Yatong Co., Ltd.: Plans to reduce its subscribed capital contribution to Jinnovo Innovation Fund to 9 million yuan.

Yatong Co., Ltd. announced that the company had previously subscribed for a partnership share in Shanghai Jinfu Innovation Private Equity Investment Fund Partnership in the amount of RMB 30 million, and as of now has paid in RMB 9 million. Based on an adjustment to its development strategy, the company plans to reduce its subscribed capital contribution to the fund from RMB 30 million to RMB 9 million, a reduction of RMB 21 million in subscribed capital contribution this time. This matter has been reviewed and approved by the company's board of directors, does not need to be submitted to the shareholders' meeting for review, and does not constitute a related-party transaction or a major asset restructuring.