According to the Shennan Circuit announcement, the company's 2026 application for issuing shares to specific targets was reviewed and approved by the Shenzhen Stock Exchange Listing Review Center. It is believed that the company has met the issuance conditions, listing conditions and information disclosure requirements. The Shenzhen Stock Exchange will then report it to the China Securities Regulatory Commission for the relevant registration procedures in accordance with regulations. The issue of issuing shares to a specific target audience still needs to be approved by the China Securities Regulatory Commission before it can be implemented. There is still uncertainty about whether and when approval for registration can be obtained in the end.

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