Guizhou Space Appliance to fully acquire motor system subsidiary

Guizhou Space Appliance Co., Ltd. plans to acquire the 32.00% equity in its subsidiary, Shenzhen Aerospace Motor System Co., Ltd., currently held by China Aerospace Science and Industry Shenzhen (Group) Co., Ltd. The acquisition will be conducted through a public delisting process on the Shenzhen United Property Rights Exchange, with a floor price of CNY 46,590,300. The transaction, approved on November 21, 2025, is a related party transaction.

This move aims to accelerate the company's strategic layout for the civilian motor industry and integrate motor businesses, enhancing Aerospace Motor System's development. Following the acquisition, Guizhou Space Appliance's ownership in Aerospace Motor System will increase from 68.00% to 100.00%, making it a wholly-owned subsidiary. The transaction will use the company's own funds and is not expected to significantly impact its financial status or operating results.

As of December 31, 2024, Aerospace Motor System's net assets were valued at CNY 90,935,600, with an appraised value of CNY 145,594,600. The transaction's final price will be determined through the public bidding process.