Minfeng Special Paper: In the first quarter of 2026, net profit was a loss of 1.22 million yuan, a year-on-year decrease of 123.96%.

Minfeng Special Paper Announcement: In the first quarter of 2026, operating revenue was 334 million yuan, an increase of 11.25% year-on-year. Net loss was 1.2226 million yuan, compared to a net profit of 5.1022 million yuan in the same period last year.