Paranovus Entertainment held shareholder meeting, approved share capital increase proposal

• Paranovus Entertainment Technology held an extraordinary shareholder meeting on April 28, 2026.
• Shareholders authorized an increase in share capital to US$ 601,200.5, including authorization for 50 billion Class A ordinary shares and 100 million Class B ordinary shares.
• Investors adopted a seventh amended and restated memorandum and articles of association to reflect the capital increase.
• Approval was also granted for one or more reverse share splits, with board discretion to set timing and ratios within two years, capped at an aggregate 1:5,000 consolidation ratio.
• Reverse split execution was not confirmed at the meeting, with authorization allowing board to proceed or elect not to implement any consolidation.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paranovus Entertainment Technology Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001929980-26-000192), on April 29, 2026, and is solely responsible for the information contained therein.