Fu Xiaotong signed Framework Agreement to acquire 5.22% stake in Hangzhou Prevail Optoelectronic Equipment Co., Ltd. from Hangzhou Qianquan Technology Partnership Enterprise (Limited Partnership)for CNY 120 million on May 30, 2024.As of date, Fu Xiaotong holds 9.41% stake in Hangzhou Prevail equating to 9.4 million shares. If the transaction is finally implemented, the "Agreement on Voting Rights Entrustment and Concerted Action between Hangzhou Qianquan Technology Partnership Enterprise (Limited Partnership), Hainan Li?anmin Investment Partnership Enterprise (Limited Partnership), Mr. Fu Xiaotong and Mr. Lei Qianguo on Hangzhou Prevail Optoelectronic Equipment Co., Ltd." jointly signed by Qianquan Technology, Hainan Li?anmin Investment Partnership Enterprise (Limited Partnership), Mr. Fu Xiaotong and Mr. Lei Qianguo on August 4, 2023 will be terminated, and the actual controller of the company will be changed to Mr. Fu Xiaotong. The transaction is still subject to due diligence, Hangzhou Qianquan Technology has fully and completely disclosed to the transferee the assets, liabilities, equity, external guarantees and other matters related to the listed company, its subsidiaries and its actual controller, Hangzhou Prevail and its subsidiaries have been legal and compliant in all material aspects of their history, and there are no undisclosed matters or events that should be disclosed in accordance with the relevant rules of the Shenzhen Stock Exchange as of the date of delivery of the target shares, Hangzhou Prevail's operating income or other financial indicators meet the statutory standards but have not triggered forced delisting, All parties agree that within seven working days after all the prerequisites for signing the Share Transfer Agreement are met or the transferee has waived them in writing "), all parties shall sign and complete the transaction documents in accordance with the framework and principles determined in this Agreement to implement the transfer of the target shares, during the waiting period for signing, if the transfer price of the target shares determined in accordance with the provisions of this Agreement does not comply with the laws and regulations or the relevant provisions of the Shenzhen Stock Exchange, the parties shall negotiate a separate solution.