Baowen Electric: Transfer 90% equity of a subsidiary company.

Baoding Electric announced that the company has transferred its controlling subsidiary Baoding Shares - Atlanta Transformer India Limited 90% equity to Atlanta Electric Limited. The transfer price is 137 million yuan. After the completion of this transaction, the company will no longer hold equity in the Indian company, and the Indian company will no longer be included in the company's consolidated financial statements. This matter has been reviewed at the 35th meeting of the eighth board of directors of the company and still needs to be submitted for review at the second extraordinary general meeting of shareholders in 2025.