CHERISH SUN (01094) announced that, as of the date of this announcement, the joint venture company had been established, but none of the contracting parties had paid up any share capital. In light of recent changes to the solar industry policies announced by China in early January 2026, the contracting parties deemed that proceeding with the photovoltaic inverter business was no longer commercially viable. Consequently, the parties unanimously agreed to terminate the joint venture agreement and entered into a termination agreement after the trading session on January 16, 2026. Following the termination, the joint venture company will be deregistered. The Board of Directors believes that the termination will not have any material adverse impact on the Group's financial performance and operations, and is in the overall interests of the Company and its shareholders.