X.J. Electrics (Hu Bei) Co., Ltd (the 「Company」) has entered into a Payables Rescheduling Agreement with its wholly-owned subsidiary, X.J. Group (HK) Limited (the 「Supplier」), and Sensio Inc. (doing business as Made by Gather) (the 「Customer」). The agreement involves rescheduling the repayment of an outstanding partial accounts payable of USD5,003,160.14 to 17 September 2027.

Under the new terms, while the amount remains outstanding, the Customer will pay a rescheduling fee of USD125,000 per quarter. The agreement also provides a two-year window during which this rescheduled amount could be converted into an equity investment in the Customer or its parent if a separate Investment Agreement is reached. Should no investment agreement occur, the rescheduled amount is due in full by 17 September 2027.

The Company reports this arrangement as a discloseable transaction in accordance with Chapter 14 of the Listing Rules. The highest applicable percentage ratio exceeds 5% but is less than 25%. The agreement aims to balance the Company’s receivables management while offering the Customer flexibility, with a potential strategic investment opportunity. The Customer, an American kitchen appliances brand owner, remains an independent third party to the Company and its connected persons.