Subsidiary Tongyi Carbon Neutral Technology (600506.SH) plans to publicly list and raise funds not less than 400 million yuan to meet the funding needs.

Tongyi Carbon Neutral Technology (600506.SH) announced that its wholly-owned subsidiary, Unified Petrochemical Co., Ltd. (referred to as "Unified Petrochemical"), plans to solicit potential investors and implement capital increase through public listing on the Beijing Property Exchange. The planned total fundraising amount is not less than 400 million RMB, and the percentage of equity held by potential investors in Unified Petrochemical will not exceed 25%. The raised funds are intended for projects such as new energy liquid cooling oil and special lubricant oil production and research, as well as for working capital replenishment. After this transaction is completed, Unified Petrochemical will still remain a subsidiary under the financial consolidation scope of the company. The announcement states that through this capital increase, it can meet the funding needs of the listed company and Unified Petrochemical for business development and future operations, which will help Unified Petrochemical seize industry development opportunities, expand its business and market, enhance its competitive position, and open up new growth opportunities. At the same time, it will contribute to improving the financial situation of the listed company, enhancing its profitability, and laying a solid foundation for its sustainable development.