Songyang Resources: Intending to publicly transfer 100% equity of its subsidiary for 100 million yuan and implement production suspension.

Songyang Resources announced that in order to revitalize existing assets and optimize structure, it intends to publicly list and transfer 100% equity of its wholly-owned subsidiary, Songyang New Materials, through the Guangdong Equity Exchange Center, with an initial transfer price of 100 million yuan. As of June 30, 2025, the total equity value of Songyang New Materials was evaluated at 92.5647 million yuan. Due to the downturn in the industry market and increased competition, Songyang New Materials has been continuously losing money, prompting the company to halt its production. This transaction has been approved by the board of directors but still requires approval from the shareholders' meeting. It does not constitute a major asset restructuring, and there is uncertainty in the final outcome of the transaction.