Founder Technology board approves share issuance, changes audit partner

Founder Technology Group’s board of directors, at its meeting on December 2, 2025, approved a resolution regarding a 2025 A-share issuance to specific targets. The board authorized the chairman, in consultation with co-lead underwriters, to adjust the offering price if the initial share count from the book-building process falls below 70% of the intended amount, ensuring the final issuance meets this threshold. The company also confirmed its right to initiate additional subscriptions or halt the offering if effective subscriptions are insufficient or if allotted recipients fail to make payments.

Concurrently, the board approved the establishment of a dedicated account for the proceeds from the 2025 A-share issuance and authorized the chairman to sign relevant supervision agreements with the commercial bank and sponsor institution within one month of the funds being received. Both resolutions were approved by a vote of 4 in favor, 0 against, and 0 abstentions, with related parties recusing themselves.

Separately, on December 2, 2025, Founder Technology announced a change in the project quality control review partner for its 2025 financial audit. Due to internal work arrangements, Wu Zihao will be replaced by Qiu Yiwu from Zhongshenzhonghuan Certified Public Accountants (Special General Partnership). Qiu Yiwu, a certified public accountant since 2018, began working in listed company audit in 2016 and has signed or reviewed audit reports for multiple listed companies. This change is not expected to affect the 2025 financial report and internal control audit.