Panmicro Network announced that the company plans to reduce the registered capital of its wholly-owned subsidiary Chengdu Panmicro Network Technology Co., Ltd. by 100 million yuan. After the capital reduction, the registered capital in Chengdu will be 150 million yuan, and the company still holds 100% of its shares. This capital reduction was implemented to improve the efficiency of capital use due to actual investment in the Chengdu R&D Center project compared to the budget, taking into account the subsidiary's capital requirements and the company's business plan. The matter has been reviewed and approved at the second meeting of the sixth board of directors of the company. There is no need to submit it to the shareholders' meeting for consideration, it does not constitute a related transaction or major asset restructuring, and it will not have a significant impact on the company's financial status and operating results.

Panmicro Network announced that the company plans to reduce the registered capital of its wholly-owned subsidiary Chengdu Panmicro Network Technology Co., Ltd. by 100 million yuan. After the capital reduction, the registered capital in Chengdu will be 150 million yuan, and the company still holds 100% of its shares. This capital reduction was implemented to improve the efficiency of capital use due to actual investment in the Chengdu R&D Center project compared to the budget, taking into account the subsidiary's capital requirements and the company's business plan. The matter has been reviewed and approved at the second meeting of the sixth board of directors of the company. There is no need to submit it to the shareholders' meeting for consideration, it does not constitute a related transaction or major asset restructuring, and it will not have a significant impact on the company's financial status and operating results.