Jiangwu Equipment: intends to issue A shares to specific targets to acquire 100% equity of Jiangxi Jiangwu Hard Alloy Co., Ltd., Ganzhou Huamao Tungsten Materials Co., Ltd., and Jiujiang Nonferrous Metal Smelting Co., Ltd. held by Jiangxi Jiangwu Holdings Development Co., Ltd.

Announcement of Jiangtung Equipment: It is proposed to issue A shares to no more than 35 specific objects including the controlling shareholder Jiangxi Tungsten Industry Holdings Group Co., Ltd., to raise funds for the acquisition of 100% equity of Jiangying Company, Huamao Company, and Jiuye Company held by Jiangtung Holdings' wholly-owned subsidiaries. This transaction is expected to constitute a major asset restructuring as stipulated in the "Regulations on Major Asset Restructuring of Listed Companies", but according to the China Securities Regulatory Commission's "Guidelines for the Application of Regulatory Rules - No. 1 for Listed Companies" and in conjunction with the effective arrangement of the relevant agreements of this transaction, the relevant provisions of the "Regulations on Major Asset Restructuring of Listed Companies" do not apply to this transaction.