Kairuide Holding Co Ltd

Kairuide announced plans to subscribe to new registered capital of Exa Technology Chengdu Company Limited with its own funds of 80 million yuan, holding an 11.76 percent stake after the capital increase. Exa Technology focuses on aerospace-grade memory chips and satellite-borne storage systems. Currently, 85 in-orbit satellites carry its products, but the company's 2025 revenue was only 27.85 million yuan and it has yet to turn a profit. From January to April this year, revenue was 4.75 million yuan with a net loss of 5.35 million yuan. Kairuide's main business is coal trading. This investment aims to promote strategic transformation and upgrading. The company will not appoint directors, supervisors, or senior management, nor participate in operations. The investment is accounted for as an investment in other equity instruments. Exa Technology's pre-investment valuation is 600 million yuan. If subsequent operations fall short of expectations or future financing valuations are lower than this valuation, anti-dilution clauses may be triggered. Kairuide's stock price had been rising continuously before the announcement, with a cumulative increase of over 17 percent on July 2 and 3, and its latest market capitalization is 3.5 billion yuan.