New coordinates: the joint venture company has completed registration.

New Coordinate Announcement: Hangzhou Jiuyueba Transmission Technology Co., Ltd., jointly established by the company, Zhejiang Tuoman Intelligent Technology Co., Ltd., and Mr. Sun Lisong, has completed the business registration procedures and obtained the "Business License". The registered capital of the newly established subsidiary is 100 million yuan, with New Coordinate contributing 77 million yuan, Tuoman Intelligent contributing 18 million yuan, and Mr. Sun Lisong contributing 5 million yuan. The total investment of the project is approximately 500 million yuan, with the registered capital being 100 million yuan. The remaining funds will be supplemented by shareholders or raised by joint venture companies.