Senying Window Industry Intends to Set up Xingguan Glass to Further Improve the Strategic Layout of National Production Capacity

On July 18, Senying Window Industry announced that in order to further improve the strategic layout of the national production capacity, improve the stability of the supply chain system, and enhance the technological research and development capabilities and industrial synergy advantages in the field of glass deep processing. Nanjing Senying Window Industry Co., Ltd. (Hereinafter referred to as "Nanjing Senying"), a wholly-owned subsidiary of Harbin Senying Window Industry Co., Ltd. (Hereinafter referred to as the "Company"), intends to cooperate with Shandong Xingguan Glass Technology Co., Ltd. (Hereinafter referred to as "Shandong Xingguan"), Linqu Jingxing Equity Investment Center (Limited Partnership) (hereinafter referred to as "Linqu Jingxing") jointly invested in the establishment of Xingguan Glass (Anhui) Co., Ltd. (Tentative name, subject to the approval and registration information of the relevant competent authorities, hereinafter referred to as the "Target Company"), and intends to jointly sign the Capital Contribution Agreement in the near future. The registered capital of

the Target Company is proposed to be RMB 50 million, of which Shandong Xingguan contributes RMB 25.5 million, accounting for 51%; Nanjing Senying contributes RMB 10 million, accounting for 20%; Linqu Jingxing contributes RMB 14.5 million, accounting for 29%. The registered address of the Target Company is Xinyi Industrial Park, He County, Maanshan City, Anhui Province, which is mainly engaged in research and development, design, processing and sales of glass and stainless steel products; wholesale and retail of glass and accessories, aluminum profiles and accessories, aluminum-plastic panels, curtain wall accessories, aluminum-plastic door and window accessories; Import and export business of all kinds of commodities and technologies, except those restricted by laws and regulations or prohibited by laws and regulations. (Projects that must be approved according to law can only be carried out after approval by relevant departments.)

The company said that the main purpose of this foreign investment is to further improve the strategic layout of national production capacity, improve the stability of supply chain system, and enhance the technological research and development capabilities and industrial synergy advantages in the field of glass deep processing. The main production and operation site of the Target Company is located in Anhui Province, which is one of the largest glass raw material producing areas and glass industry bases in China, with obvious industrial agglomeration advantages. It is adjacent to Nanjing Senying, a wholly-owned subsidiary of the Company, which can shorten the glass supply chain radius of Nanjing Senying and strengthen the protection of upstream main raw materials. It is conducive to consolidating the industrial base of Nanjing production base in East China, and relying on the East China market to accelerate the marketing network layout in the surrounding areas, so as to enhance the overall competitiveness of the company.