Mengcao Ecological: Signed a PPP project early termination agreement with the Dongwu Housing and Construction Bureau.

Mengcao Ecological Announcement: The cooperation period of the "Dongwu PPP Project Contract" signed between Mengyuan Ecological, a holding subsidiary of the company, and Dongwu Housing and Construction Bureau is 12 years, which has entered the operational phase on January 1, 2022. To seize the window period of debt-for-equity policies and improve the efficiency of fund utilization, it is proposed to terminate the cooperation in advance and carry out debt restructuring through negotiations. As of December 31, 2025, the total project cost is 273 million yuan, of which 38.5597 million yuan has been paid, and 234 million yuan has not been paid yet. According to the termination agreement, Dongwu Housing and Construction Bureau will pay 124 million yuan within 2 working days after signing the "Asset Data Transfer Checklist", 27.9886 million yuan in the first quarter of 2026, 21.763 million yuan in the third quarter, and 21.7641 million yuan in the fourth quarter. After a total payment of 195 million yuan, the company will waive the remaining debt. It is estimated that this debt restructuring will impact the company's current period pre-tax profit by approximately -35.0173 million yuan.