Jiusheng Electric announced that the company's 2026 plan to issue A-shares to specific targets has been reviewed and approved by the board of directors and the extraordinary shareholders' meeting, and still needs to be reviewed and approved by the Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission before it can be implemented. The target of this issuance is no more than 35 specific investors. The issuance price is not lower than 80% of the company's average stock trading price in the 20 trading days before the pricing benchmark, and the total capital raised is no more than 427 million yuan. It is intended to be used for R&D and industrialization projects of high-temperature and high-voltage underground electric heating systems, electric wire and cable smart factory upgrading and construction projects, and supplementary working capital. The controlling shareholder and actual controller of the company will not change after the issuance is completed, which will not lead to a change in the company's control.

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