Nanjing Toua Hardware&Tools Co.,Ltd., Nanjing Shengong No. 3 Venture Capital Investment Management Partnership Enterprise (Limited Partnership) and Guangzhou Meilingge Information Technology Co., Ltd. signed an letter of intent to acquire 75% stake in Jiangsu Toua Iron Anchor Tool Co., Ltd. from Jiangsu Iron Anchor Tool Co., Ltd. for approximately CNY170 million on May 5, 2023. Nanjing Toua Hardware&Tools Co.,Ltd., Nanjing Shengong No.

3 Venture Capital Investment Management Partnership Enterprise (Limited Partnership) and Guangzhou Meilingge Information Technology Co., Ltd. signed an agreement to acquire to acquire 75% stake in Jiangsu Toua Iron Anchor Tool Co., Ltd. from Jiangsu Iron Anchor Tool Co., Ltd. on June 26, 2023. For the year ended, April 30, 2023, Jiangsu Toua Iron Anchor Tool Co., Ltd. total asset is CNY 287.98 million and net asset is CNY 227.77 million. This has been approved in the 9th Meeting of the Nanjing Toua Hardware&Tools Co.,Ltd. 2nd Directorate held on June 26, 2023, and does not need the Shareholders’ Approval.