Biwin Storage Unit to Raise Up to RMB 600 Million, Parent to Hold at Least 52.52%

Biwin Storage announced that its controlling subsidiary Guangdong Xincheng Hanqi plans to introduce external investors through a capital increase and share expansion. The total financing will not exceed RMB 600 million, and external investors will hold no more than 23.08% of the subsidiary. Upon completion, Biwin Storage's equity interest in Guangdong Xincheng Hanqi will be no less than 52.5186%, corresponding to at least 52.52%, and the subsidiary will remain a consolidated subsidiary within the company's reporting scope. The announcement also showed that related party Dongguan Luoyi Baichen No. 1 Venture Capital Fund Partnership (Limited Partnership) intends to subscribe for up to RMB 80 million in the capital increase, corresponding to no more than RMB 4.101111 million of newly registered capital in Guangdong Xincheng Hanqi. The specific investor list and subscription amounts for this capital increase have not yet been disclosed, and further updates are pending.