Lingwei Technology: Jiangsu Huimai's spherical silicon micro powder is currently in the downstream customer trial stage in the application of M9 grade copper-clad laminates and has not yet entered the substantive production stage.

Lingwei Technology announced that the deviation value of the closing price of the company's stock for 10 consecutive trading days has reached 106.39%, which is considered a serious abnormal fluctuation in stock trading. The proportion of the annual operating income of Jiangsu Huimai Powder Technology Co., Ltd. acquired by the company in 2025 accounts for about 5% of the company's overall operating income, which has no significant impact on the overall business situation of the company. The future operating performance of Jiangsu Huimai may be affected by various uncertain factors such as technological iteration, market development, industrial policies, downstream demand, etc. There are risks of business integration and synergies falling short of expectations, as well as performance commitments not being met. On January 5, 2026, Jiangsu Huimai completed the relevant industrial and commercial registration procedures and obtained a "Business License" issued by the Administration Office for Government Services of Tinghu District, Yancheng City. After this industrial and commercial change is completed, the company will have 70% of the voting rights of Jiangsu Huimai, acquire control of Jiangsu Huimai, and include Jiangsu Huimai in the company's 2026 consolidated financial statements. Jiangsu Huimai's product, spherical silicon micro powder, is currently in the trial stage with downstream customers in the M9-level copper clad board application, it has not yet entered the substantial production stage, nor has it formed orders, and there is uncertainty about its impact on Jiangsu Huimai's future operating performance.