Fengmao Technology: Termination of investment in the construction of the Jiaxing automotive parts production base

Fengmao Technology announced that the company has decided to terminate the investment and construction of the Jiaxing automotive parts production base project. This decision has been approved by the 14th meeting of the second board of directors and needs to be submitted for review at the second extraordinary shareholders' meeting in 2025. Due to adjustments in strategic development planning, the company will shift its focus to advancing the construction of the intelligent chassis thermal control system production base project in Yuyao. The intelligent chassis thermal control system production base project is beneficial for improving the efficiency of the company's existing assets and supply chain resources, thereby enhancing the overall investment return of the project. The Jiaxing automotive parts production base project has not yet commenced implementation and has not involved any capital investment; the relevant agreements have been terminated