ShaoYang Victor Hydraulics Co.,Ltd announced it has entered into Subscription agreement in this issuance will not exceed 15,368,852 shares at issue price RMB 9.76 per share for gross proceeds RMB 149,999,995.52 on May 8, 2024. The transaction included participation from Su Wuhong. The shares subscribed for by the issuing targets in this issuance shall not be transferred within 36 months from the completion of the issuance.

The transaction was approved by the 2nd meeting of the special session of the 5th board of directors' independent directors, the 15th meeting of the 5th board of directors, and the 11th meeting of the 5th board of supervisor and is subject to the approval of shareholders of the company, Shenzhen Stock Exchange and China Securities Regulatory Commission for registration.