Yongfu Co., Ltd. announced that due to commercial planning adjustments, the associated shareholding company Shanghai Kuaibu New Energy Technology Co., Ltd. decided not to proceed with red chip structure construction and equity restructuring matters, and the parties have signed the “Reorganization Framework Agreement” to terminate the agreement. The restructuring is still in the pre-approval stage for the establishment of a red chip structure. The relevant arrangements have not yet been implemented. The company's investment amount in Shanghai Kuaibu has not changed, the shareholding ratio has not changed, and the scope of the consolidated statement has not changed, which will not adversely affect the company's normal production, operation and financial situation.

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