Jingce waives subscription rights in associate's capital increase, stake reduced

Wuhan Jingce Electronic Group Co., Ltd. (Jingce) announced the completion of the capital increase for its associate company, Hubei Starlite Technology Co., Ltd. Jingce had previously approved the waiver of its priority subscription rights for this capital increase at a board meeting on September 29, 2025. The capital increase involved Hubei Starlite introducing Hainan Ruixin Investment Partnership (Limited Partnership), an employee stock ownership platform, as a new investor.

Hainan Ruixin invested 357 million yuan in Hubei Starlite, with 8.498953 million yuan allocated to paid-in registered capital and 348.501047 million yuan to capital reserve. Following the capital increase, Hubei Starlite's registered capital increased from 293.58218 million yuan to 378.57171 million yuan. Jingce's equity holding in Hubei Starlite decreased from 43.3803% to 33.6414%, though Hubei Starlite remains an associate company and is not consolidated.

Hubei Starlite has now completed the industrial and commercial registration procedures for the capital increase and obtained a new business license. Jingce's decision to waive its subscription rights was based on a comprehensive assessment of its operational situation and overall development plans.