Bayside: Full Subsidiary Environmental Pollution Case First Instance Judgment Fine Paid

Bassmei announced that recently, its wholly-owned subsidiary Jiangsu Yong'an Chemical Co., Ltd. received a "Criminal Judgment" from the People's Court of Guannan County, Jiangsu Province. The court found Yong'an Chemical guilty of environmental pollution and imposed a fine of 150,000 RMB; an employee involved in the same case was sentenced to 5 months of imprisonment with a 6-month probation period, and fined 50,000 RMB, prohibiting them from engaging in activities related to pollution during the probation period. This case will not have a significant impact on the company's current or future profits, and does not involve a situation that would force the company to delist due to major violations of the law.