On September 26, Geelong announced that Juguang Technology (688167.SH) recently received a salary reduction application from Mr. Liu Xingsheng, the Chairman and General Manager, as well as some directors and management personnel (including foreign nationals). Considering the global economic situation and the industry position of the company, and taking into account the fact that the company's performance was in a loss state in the first two quarters of 2024 due to factors such as the integration of overseas target assets acquired, in order to actively respond to market challenges, quickly achieve profitability through the integration of previous mergers and acquisitions, optimize cost structure, and enhance the company's competitiveness, they took the initiative to propose a salary reduction. This move is Chairman and General Manager Mr. Liu Xingsheng, as well as some directors and management personnel of the company, facing the current operational challenges after the merger together with all company employees, demonstrating their firm confidence in the future development of the company and their determination to advance or retreat with the company.

Salary Reduction Rates: Chairman and General Manager Mr. Liu Xingsheng's salary reduced by 30%; Directors, Vice General Managers like Tianye, and some management personnel (including foreign nationals) had their salaries reduced by varying degrees, ranging from 10% to 20%. This salary adjustment will take effect from the month following the disclosure of this announcement and will continue until the company achieves two consecutive quarters of net income attributable to shareholders of the listed company after deducting non-recurring gains and losses, at which point it will cease. The maximum duration of the salary reduction is 12 months.