On July 19, 2023, shareholder Jiden Zero Carbon (Jiangsu) New Energy Technology Co., Ltd. submitted to Xuancheng Valin Precision Technology Co., Ltd. a proposal to discuss the amendment of the Company's Articles of Association, Shareholders' Meeting Rules, Board of Directors' Meeting Rules, Supervisory Board's Meeting Rules, Foreign Investment System, Fund Raising Management Regulations, and the adjustment of the Company's 2023 annual application for comprehensive credit lines from banks.