Changhong Meiling announced that the company plans to use its own funds of 0.371 billion yuan to acquire 99% equity of Hefei Changhong Industrial Co., Ltd. held by Sichuan Changhong Electric Co., Ltd. At the same time, the company's wholly-owned subsidiary Hefei Meiling IoT Technology Co., Ltd. plans to use its own funds of 3.7503 million yuan to acquire 1% equity of Hefei Changhong Industrial Co., Ltd. held by Sichuan Changhong Innovation Investment Co., Ltd. After the transaction is completed, Hefei Changhong Industrial Co., Ltd. will become a wholly-owned subsidiary of Changhong Meiling. This transaction constitutes a related party transaction, but does not fall under the regulations of major asset restructuring of listed companies, and still needs to be submitted to the company's shareholders' meeting for approval.