Huali Group announced that the board of directors of the company reviewed and passed the foreign investment bill. It is proposed that the company or its wholly-owned subsidiary invest no more than 500 million US dollars in O-Net Technologies Group Limited with its own capital to acquire no more than 25% of its shares. The transaction is still in the intention and planning stage. The investment agreement has not yet been formally signed. The final transaction amount, shareholding ratio, transaction method and other details are uncertain, and domestic and overseas approval and filing procedures may be required, and there is a risk of delay or termination. After the transaction is completed, the company holds a minority stake in the underlying company and is not included in the scope of the consolidated statement. It is not expected to have a significant impact on the company's current and future business performance.

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