Xinhai Technology announced that the 22nd meeting of the fourth board of directors of the company deliberated and passed the “Proposal on Joint Investment and Related Transactions with Affiliates”, agreeing that the company and the controlling shareholder Lu Guojian and others would jointly increase the capital of Shenzhen Kaihong Hardware Ecological Technology Co., Ltd., of which the company subscribed 750,000 shares and held 15% of the shares; Lu Guojian subscribed 1.8 million shares and held 36% of the shares with 1.8 million yuan. The conference also considered and approved the use of no more than 100 million yuan of idle funds raised to temporarily supplement working capital for a period of no more than 12 months.

Xinhai Technology announced that the 22nd meeting of the fourth board of directors of the company deliberated and passed the “Proposal on Joint Investment and Related Transactions with Affiliates”, agreeing that the company and the controlling shareholder Lu Guojian and others would jointly increase the capital of Shenzhen Kaihong Hardware Ecological Technology Co., Ltd., of which the company subscribed 750,000 shares and held 15% of the shares; Lu Guojian subscribed 1.8 million shares and held 36% of the shares with 1.8 million yuan. The conference also considered and approved the use of no more than 100 million yuan of idle funds raised to temporarily supplement working capital for a period of no more than 12 months.