On ****, Gelunhui reported that the board of directors proposed to the shareholders' meeting to authorize the board of directors to issue stocks to specific objects through a simplified procedure, with a total financing amount not exceeding 300 million yuan and no more than 20% of the net assets at the end of the most recent year. The renminbi common stock (A shares) listed in China, with a face value of RMB 1.00 per share. The number of shares issued is determined by dividing the total amount of funds raised by the issue price, and does not exceed 30% of the total share capital before the issue. The authorization period is from the date of approval by the company's 2023 annual general meeting of shareholders to the date of the company's 2024 annual general meeting of shareholders.