On May 12, the company's 2024 annual general meeting was successfully convened. The meeting deliberated and approved the "Plan for Public convertible bond issuance," proposing to raise funds not exceeding RMB 600 million through the Public convertible bond issuance. After deducting issuance expenses, all funds will be allocated to the Shanghai High-Speed Copper Cable production base project , the Mexico Automotive Cable and High-Speed Copper Cable Production Base Project, and the Ningbo Automotive Cable Renovation Project.

The proposed investment projects are closely aligned with the two major directions of AI and globalization. The Shanghai project will establish a high-speed copper cable production line, targeting the explosive demand for high-speed transmission cables in AI computing centers. The Mexico base, as the company's first overseas manufacturing center, aims to build supporting capabilities for the North American automotive industry chain, shorten delivery cycles through localized production, and circumvent risks associated with international trade barriers. The Ningbo project will enhance production capacity for high-end automotive cables such as data and new energy cables through production line upgrades and renovations, solidifying the company's leading position in the domestic automotive cable industry.