Vanjee Technology provides financial support to subsidiary after capital increase

Vanjee Technology, through its Fifth Board of Directors' Twentieth Meeting, approved financial assistance to its controlled subsidiary, Wuhan Vanjee Optoelectronic Technology Co., Ltd. This decision follows Wuhan Vanjee's capital increase, which involved introducing new investors, increasing its registered capital from RMB 60 million to RMB 71 million. Vanjee Technology's stake in Wuhan Vanjee was reduced from 100% to 84.51%, yet it remains a controlled subsidiary. The existing loan balance of RMB 74.9001 million from Vanjee Technology to Wuhan Vanjee was passively converted into financial assistance.

To continue supporting Wuhan Vanjee's operations, Vanjee Technology will provide additional financial assistance up to RMB 90 million, which includes the current RMB 74.9001 million loan balance. This facility allows for revolving usage until December 31, 2026. The financial assistance is designed to meet Wuhan Vanjee’s daily operational needs. The company's controlling shareholder, Mr. Zhai Jun, provides unlimited joint and several liability guarantees for the financial assistance corresponding to his indirect shareholding in Wuhan Vanjee.

The board also approved the renewal of its auditing firm, Xinyongzhong Certified Public Accountants (Special General Partnership), for 2025 at a fee of RMB 850,000, and a forecast for 2026 daily related transactions not exceeding RMB 47 million. Additionally, the board approved revisions to several corporate governance policies, some of which require shareholder approval. These proposals will be submitted for approval at the third extraordinary general meeting of shareholders in 2025, scheduled for December 29, 2025.