EZVIZ Networks announced that its wholly-owned subsidiary Chongqing EZVIZ Electronics Co., Ltd. intends to sign a construction contract for the second phase of the intelligent engineering project with Hangzhou Hikvision System Technology Co., Ltd. The total transaction amount is expected to be no more than 35 million yuan. Hikvision System is a wholly-owned subsidiary of the company's controlling shareholder Hangzhou Hikvision Digital Technology Co., Ltd., and constitutes a related transaction. The transaction is based on the actual operating conditions of Chongqing EZVIZ and the needs of the second phase of the construction of the EZVIZ Intelligent Manufacturing Chongqing Base Project, which is conducive to the normal advancement of intelligence. The transaction price is fair and reasonable, and has no adverse impact on the company's financial situation and operating results.