Tongguang Cable and Yangtze Optical Fibre Plan to Establish a joint Venture

　　ICC Information news -- On February 25, 2025, Jiangsu Tongguang Electronic Wire & Cable Co., Ltd. (stock code: 300265, hereinafter referred to as "Tongguang Cable" or the "Company") announced that it has officially signed a joint venture agreement with Yangtze Optical Fibre and Cable Co., Ltd. (stock code: 601869, hereinafter referred to as "Yangtze Optical Fibre"). The two parties plan to jointly invest 600 million RMB to establish Jiangsu Tongfei Technology Co., Ltd. (provisional name, subject to final approval by the market supervision and administration department, hereinafter referred to as the "joint Venture").

　　According to the announcement, the registered capital of the joint Venture is 600 million RMB. Among this, Tongguang Cable holds 56.5% of the shares, contributing through its wholly-owned subsidiary Jiangsu Tongguang Information Co., Ltd., Sichuan Tongguang Optical Fibre Co., Ltd., as well as cash, totaling 339 million RMB; Yangtze Optical Fibre holds 43.5% of the shares, contributing through its subsidiary Yangtze Optical Fibre and Cable (Tianjin) Co., Ltd., equipment assets, and cash, totaling 261 million RMB. After the completion of this transaction, the joint Venture will become a controlled subsidiary of the Company, included in the consolidated financial statements.

　　It is understood that the business scope of the joint Venture includes research, development, production, and sales of optical fibers, optical cables, communication cables, special cables, and devices, accessories, components, and materials, specialized equipment, as well as the manufacturing of communication products, providing engineering and technical services for these products.

　　Tongguang Cable stated that this cooperation is based on the needs of the company's operations and strategic development, aiming to fully utilize and integrate resource advantages, increase market share of optical fiber and cable products, enhance influence in the field of communications, improve the company's core competitiveness and overall profitability. By giving full play to and utilizing the leading advantages and resources of all parties in their respective fields, the aim is to achieve win-win cooperation among all parties.