Titan Wind: Decided to implement long-term production suspension arrangements for six wholly-owned subsidiaries

On January 29th, Titan Wind announced that the company has decided to cease production and business operations at six wholly-owned subsidiaries, including Shangdu Blades. Given the increasingly fierce market competition in the regions where the subsidiaries are located, in order to further optimize the overall resource allocation of the company and concentrate superior forces on developing core businesses such as offshore wind power, and to comprehensively enhance operational efficiency and profitability, the company has decided to implement a long-term production suspension arrangement for the aforementioned wholly-owned subsidiaries after careful deliberation and strict adherence to the corresponding decision-making procedures. Contracts that have not been fulfilled by the suspended subsidiaries will be taken over by nearby subsidiaries that are operating normally. Since the suspended subsidiaries are in a loss-making state, the decision to suspend production will not have a significant impact on the company's main business