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 has been reviewed and approved by the Shenzhen Stock Exchange. The China Securities Regulatory Commission still requires the consent of 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. The total capital raised is no more than 427 million yuan. It is intended to be used for R&D and industrialization of high-temperature and high-voltage underground electric heating systems, the upgrading and construction of smart wire and cable factories, and supplementary working capital projects. The controlling shareholders and actual controllers of the company will remain unchanged after the issuance is completed, which will not result in a change in control.

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