Huahong Hongli announced that on October 29, 2026, the board of directors of the company received a “Letter on Proposing Huahong Hongli Semiconductor Co., Ltd. to buy back the company's shares” from Mr. Bai Peng, Chairman of the Board of Directors and President of the Company. Mr. Bai Peng proposed that the company use its own capital and/or self-financing to repurchase RMB common shares already issued by the company. The total repurchase capital should not be less than RMB 300 million and not more than RMB 500 million. The method of repurchasing shares is through centralized bidding transactions through the Shanghai Stock Exchange trading system. Shares are repurchased for share cancellation, protection of company value and shareholders' rights, or for equity incentives, employee stock ownership plans, etc. at an appropriate time in the future.

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