Full power: Quanjiao Huike Industrial Investment Group Co., Ltd. indirectly acquired 90% equity of Quanchai Group.

Announcement by Quanchai Power: Quan Jiao Huikai Industry Investment Group Co., Ltd., the acquirer, indirectly acquired 90% equity of Quanchai Group held by the Quanjiao County People's Government through the transfer of state-owned shares without compensation, acquiring a total of 1.49 billion shares of Quanchai Power, accounting for 34.32% of the total share capital of the listed company. After this acquisition is completed, Huikai Investment will directly hold 90% of Quanchai Group's shares, while Quanchai Group will still hold 34.32% of Quanchai Power's shares, with no change in the direct controlling shareholders and actual controllers of the listed company.