On December 13th, 688489.SH announced that the company held the 14th meeting of the first board of directors and the ninth meeting of the first board of supervisors on December 9, 2022 to consider and pass the "motion on the use of excess funds and some idle funds for cash management", agreeing that the company will not affect the construction and use of the funds raised and ensure the safety of the funds raised in advance. Use overraised funds with a total amount of not more than RMB 1 billion (including capital) and some idle raised funds for cash management, purchase investment products with high security and liquidity (including but not limited to structured deposits, time deposits, notice deposits, large certificates of deposit, agreement deposits, capital preservation income certificates of securities companies, etc.), increase corporate earnings and protect the interests of shareholders of the company. The term of use shall be valid within 12 months from the date of examination and approval of the first interim general meeting of shareholders in 2022. Within the above-mentioned amount and time limit, the funds can be recycled and rolled over.

The board of directors authorizes the management of the company to exercise the investment decision-making power of cash management and sign relevant contract documents within the authorized amount and time limit, and the specific matters shall be organized and implemented by the financial center of the company, including, but not limited to, selecting qualified professional financial institutions, defining the amount and period of cash management, selecting the variety of cash management products, signing contracts and agreements, etc. The matter has yet to be examined by the shareholders' general meeting.