On May 20, Yisheng Technology announced that Meishan Yish eng Photovoltaic Technology Co., Ltd. (Hereinafter referred to as "Meishan Yisheng"), the company's holding company, intends to introduce Maiwei shares as a strategic investor through capital increase and share expansion. Maiwei shares will increase its capital by 90 million yuan to Meishan, and will hold 4% of the latter after completion.
According to the transaction plan, the price of this capital increase is 2.12 yuan/registered capital, and the newly increased investment is 90 million yuan, of which 42.525 million yuan is included in the registered capital and 47.475 million yuan is included in the capital reserve. Upon completion
of the Transaction, the registered capital of Meishan Yisheng will increase from RMB1,020.65 million to RMB1,063.175 million, and the shareholding ratio of Tianjin Yisheng will be diluted from 88.18% to 84.66%.
Shengsheng Technologies said that the capital increase will help to enhance its capital strength and further consolidate the company's strategic layout in the field of ultra-efficient heterojunction. The specific changes in the shareholding structure before and after the capital increase are shown in the figure below:

According to the data, Meishan Yisheng was established in January 2023 in Danling County, Meishan City, Sichuan Province, focusing on the development, application and large-scale production of ultra-high efficiency heterojunction (HJT) solar cell technology. The company is controlled by Tianjin Liusheng Technology Co., Ltd., a subsidiary of Liusheng Technology, and the actual controller and beneficiary is Wang Xin. In terms of
business layout, Meishan Yisheng plans to build a 8g W heterojunction battery project, but by the end of 2025, Meishan Yisheng has completed and put into operation a production capacity of 2.8g W heterojunction batteries .
Financially, as of March 31, 2026, Meishan's total assets were about 1.815 billion yuan, its total liabilities were about 1.591 billion yuan, its revenue accounts were 14.0674 million yuan, and its net assets were about 223 million yuan .
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