Skyworth Group Limited announced on September 30, 2024 that its indirect non-wholly-owned subsidiary Jiangsu Skyworth New Energy signed an energy storage equipment procurement agreement with Nanjing Chuangyuan Power, with a transaction amount of 12.8 million yuan. Due to Mr. Huang holding approximately 54.67% of Skyworth Group's equity, Nanjing Chuangyuan Power is owned by Mr. Huang's Skyblue Family Trust holding approximately 35.36% of the equity, making this transaction a related party transaction. According to the listing rules, the applicable percentage for this transaction exceeds 0.1% but is less than 5%, therefore compliance with declaration and announcement requirements is needed, but independent shareholder approval is exempted. Jiangsu Skyworth New Energy mainly engages in the research and development, manufacturing, and sales of power electronic products, while...Show More

Skyworth Group Limited announced on September 30, 2024 that its indirect non-wholly-owned subsidiary Jiangsu Skyworth New Energy signed an energy storage equipment procurement agreement with Nanjing Chuangyuan Power, with a transaction amount of 12.8 million yuan. Due to Mr. Huang holding approximately 54.67% of Skyworth Group's equity, Nanjing Chuangyuan Power is owned by Mr. Huang's Skyblue Family Trust holding approximately 35.36% of the equity, making this transaction a related party transaction. According to the listing rules, the applicable percentage for this transaction exceeds 0.1% but is less than 5%, therefore compliance with declaration and announcement requirements is needed, but independent shareholder approval is exempted. Jiangsu Skyworth New Energy mainly engages in the research and development, manufacturing, and sales of power electronic products, while Nanjing Chuangyuan Power focuses on the research, production of core components, and systems for rechargeable power battery packs for automobiles. The energy storage equipment procured this time will be used for the photovoltaic power generation project undertaken by Jiangsu Skyworth New Energy. The board believes that the terms of this procurement agreement are fair and reasonable, and are in line with the overall interests of the company and shareholders.