On September 20th, Gelonhui announced that on September 20, 2024, the company signed an "Investment Agreement" with Zeng Hongbin, Chen Jinqiu, Zheng Ning, etc. The company acquired 80% equity of the Wan Yue Optoelectronic Technology (Zhuhai) Co., Ltd. (hereinafter referred to as the "target company" or "Wan Yue Optoelectronic") held by the three individuals for RMB 3 million (corresponding to a subscribed capital of RMB 5.328 million for the target company, none of which has been paid), and will use its own funds to fulfill the corresponding paid-in capital obligations as stipulated in the "Investment Agreement" and the target company's articles of association. At the same time, the registered capital of the target company will be increased by RMB 8.34 million, of which the company will subscribe for RMB 6.672 million of the target company's new registered capital using its own funds. After the completion of this transaction, the registered capital of the target company will change from RMB 6.66 million to RMB 15 million. The company will hold 80% equity of the target company (corresponding to a subscribed capital of RMB 12 million for the target company), and the target company will be included in the company's consolidated financial statements. This investment does not constitute a related party transaction, nor does it constitute a major asset restructuring as defined in the "Administrative Measures for Major Asset Restructuring of Listed Companies".

Wan Yue Optoelectronics is a manufacturing enterprise specializing in the research and development, production, and sales of PCB products with special material processes, such as thermal electric separation copper substrates, mirror aluminum substrates, ceramic substrates, etc. It has professional and independent production facilities and management teams, and its core team has rich experience in this field. The investment in Wan Yue Optoelectronics aligns with the company's development strategy and meets the company's operational needs. Over the years, the company has accumulated rich experience in fine production management and quality control in the PCB field, as well as a mature management talent system, which can provide a mature management system foundation and synergistic effects for the production of Wan Yue Optoelectronics. By coordinating the industrial resources of the company and Wan Yue Optoelectronics, leveraging synergies and complementary advantages, it will help accelerate the company's industrial layout, enrich the company's product system, expand downstream application areas, enrich customer resources, enhance the company's brand visibility, and make the company one of the few domestic manufacturers with production capabilities in various technological directions and special material products such as high-frequency and high-speed boards, thick copper boards, multi-functional metal substrates, ceramic substrates, flexible boards, rigid-flex boards, and HDI boards. This will enhance the company's overall competitiveness and profitability, achieve the company's strategic goals, and promote the company's long-term and sustainable development.