On 15 April 2026, MeiG Smart Technology Co., Ltd. (MEIG) signed an investment agreement with the Administrative Committee of Nantong City North Hi-Tech Zone, committing RMB300.00 million to build an AI Research and Development and Advanced Manufacturing Industry Project in Jiangsu Province.

The project covers a 46-mu industrial site with a 30-year land-use term. MEIG will erect an R&D office building, laboratories, advanced manufacturing workshops and supporting facilities, and will gradually install automated production lines—such as SMT and SIP packaging—between the agreement’s effective date and 2030. Fixed-asset outlays, mainly production equipment, must total at least RMB150.00 million; the remainder is allocated to project land and working-capital reserves.

Funding will be provided entirely from the group’s internal resources. MEIG will set up (or relocate) a wholly owned entity in Nantong with registered capital of RMB200.00 million to execute the venture.

Operational objectives include: • Cumulative taxable sales of no less than RMB2.00 billion within five years of production start, with taxable sales above RMB20.00 million targeted for 2029 and annual taxable sales of at least RMB1.20 billion from 2032 onward. • Attainment of National New and High-tech Enterprise status, or an equivalent honour, by 2032.

The Nantong City North Hi-Tech Zone will assist MEIG in securing policy support covering equipment, talent, technology innovation and tax incentives; subsidy amounts remain subject to future confirmation.

MEIG expects the new facility to tighten integration with its existing R&D bases in Shanghai and Shenzhen, enhance product design, and enable pilot-to-mass production of high-computing-power AI modules, ASIC servers and in-vehicle SIP products—extending the company’s full-chain capabilities from design through automated manufacturing.

Under Hong Kong Listing Rules, the transaction constitutes a discloseable transaction (percentage ratios between 5% and 25%) and therefore requires public disclosure but not shareholder approval. MEIG will release further updates as land-use contracts and subsidy details are finalised.