ST Treasure: The acquisition of 100% equity of Ningxia Electric Investment New Energy Co., Ltd. has been approved by the Ningxia State-owned Assets Supervision and Administration Commission.

ST Bao Shi announced that the company plans to acquire 100% equity of Ningxia Electric Investment New Energy Co., Ltd. through a major asset swap and cash purchase of assets. The company held a board of directors and supervisory board meeting on June 6, 2025 to review and approve the relevant proposals, and issued a related announcement on June 7, 2025. Recently, the company received a reply from the Ningxia State-Owned Assets Supervision and Administration Commission, which tentatively agreed to the company's major asset swap and cash purchase of assets and related party transactions. The restructuring still needs to be approved by the company's shareholders' meeting before it can be implemented.