Shengxing Group: Intends to use its own funds of $110 million to increase capital for Shengxing in Hong Kong.

Shengxing Corporation Announcement: The company held its fifteenth meeting of the fifth board of directors on September 26, 2025, and approved the "Proposal on Increasing the Capital of the wholly-owned subsidiary Shengxing Limited". The company plans to use its own funds of 110 million US dollars to increase the capital of the wholly-owned subsidiary Shengxing Limited. After the capital increase, the registered capital of Shengxing Limited will increase from 167 million US dollars to 277 million US dollars. The equity structure of Shengxing Limited remains unchanged, and the company still holds 100% equity. The purpose of this capital increase is to optimize the asset structure of Shengxing Limited, strengthen its financial strength, and meet the capital needs for new overseas investments. This capital increase does not involve related party transactions and does not constitute a major asset restructuring.