Bejet: Wholly-owned subsidiary intends to acquire 55% equity of Dahao Mining for 225 million yuan.

Bei Jiete Announcement: Bei Jiete New Materials Technology Co., Ltd., a wholly-owned subsidiary of Bei Jiete, plans to acquire 55% of the equity of Dahao Mining Development Co., Ltd. in Wenshan Prefecture with its own funds or self-raised funds of 225 million yuan. After the completion of this transaction, Dahao Mining will become a controlling subsidiary of Bei Jiete and will be included in the consolidated financial statements. The purpose of this acquisition is to integrate the upstream and downstream of the industrial chain, improve the efficiency and risk resistance of the industrial chain. Dahao Mining is currently not profitable mainly because the mine under its jurisdiction has not completed construction and development. The transaction still needs to go through the procedures of equity business registration, and there are uncertainties involved.