Recently, Ningbo Orient Cable Co., Ltd. (hereinafter referred to as "Orient Cable" or "the Company") issued a "Announcement on the Intended Establishment of a Joint Venture Company". The announcement disclosed that in order to promote stable cooperation in the upstream and downstream of the industrial chain and further enhance the company's influence and competitiveness in the domestic market, Orient Cable intends to invest in the establishment of a joint venture company, HuaDian (Yangjiang Yangdong) New Energy Co., Ltd. (hereinafter referred to as "HuaDian Yangjiang"). The registered capital of the proposed joint venture company is RMB 50 million, with Orient Cable contributing RMB 1.5 million and holding 3% of the company's shares, while the remaining four shareholders collectively hold 97% of the shares.