Shanghai Liangxin Electrical Co Ltd

Shanghai Liangxin Electric Appliance Co., Ltd. announced on August 14, 2026 that it has removed Cheng Qiugao from the position of Chief Financial Officer and appointed Pan Jin as the company's new CFO. According to CSRC regulations, the board secretary may not concurrently serve as the person in charge of finance, and Cheng Qiugao will continue to serve as board secretary. Pan Jin previously served as CFO of Ningbo Joyson Intelligent Connectivity and Global Audit Director of Ningbo Joyson Electronics, with a term lasting until the end of the seventh board of directors.

Liangxin Shares announced that its board of directors has approved a proposal to increase the capital of its wholly-owned subsidiary Shanghai Smart Liangxin Technology Services Co., Ltd. The company plans to inject 300 million yuan of its own funds. After the capital increase, Smart Liangxin's registered capital will rise from 50 million yuan to 350 million yuan, and the company will still hold a 100% stake. The funds will be used for Smart Liangxin's business development and daily operations, aligning with the company's strategic development plan and not having a material adverse impact on its financial position or operating results.

Liangxin Shares announced that, in order to hedge against exchange rate fluctuation risks arising from overseas business expansion, the company plans to carry out foreign exchange hedging operations. The total transaction limit shall not exceed 100 million yuan or its equivalent in foreign currency. The limit is valid for twelve months from the date of approval by the board of directors, and the funds can be recycled on a rolling basis within the validity period. The estimated maximum margin for transactions shall not exceed 10 million yuan. The matter was reviewed and approved at the eleventh meeting of the sixth board of directors on July 9, 2026. It does not require submission to the shareholders' meeting for approval and does not constitute a connected transaction. The business funds will come from self-owned funds and funds raised through compliant channels, and no raised funds will be used. Counterparties are limited to qualified financial institutions with foreign exchange derivatives business qualifications. The company may engage in forward foreign exchange settlement and sales, foreign exchange swaps, foreign exchange swaps, foreign exchange options, and other related transactions, while speculative and arbitrage transactions are strictly prohibited. The company also cautioned that risks related to market conditions, internal control operations, counterparty performance, and legal aspects still exist during the course of business.