Xingfu Electronics announced that the company plans to establish a joint venture with Hubei Xingfa and Yichang Xingfa to establish a joint venture, Hubei Xingfa Investment Co., Ltd., with a registered capital of 150 million yuan, of which the company plans to use its own funds to pledge an investment of 36.75 million yuan, accounting for 24.50% of the investment. This transaction constitutes a related transaction. It has been reviewed and approved by the board of directors, and there is no need to submit it to the shareholders' meeting for consideration.

Xingfu Electronics announced that the company plans to establish a joint venture with Hubei Xingfa and Yichang Xingfa to establish a joint venture, Hubei Xingfa Investment Co., Ltd., with a registered capital of 150 million yuan, of which the company plans to use its own funds to pledge an investment of 36.75 million yuan, accounting for 24.50% of the investment. This transaction constitutes a related transaction. It has been reviewed and approved by the board of directors, and there is no need to submit it to the shareholders' meeting for consideration.