Baichuan Energy: Plans to deregister Xindafeng Industrial Investment Fund

Baichuan Energy announced that the company, together with Xindafeng Investment Management Co., Ltd. and Langfang Baichuan Asset Management Co., Ltd., jointly established Ningbo Meishan Bonded Port Area Xindafeng Investment Partnership on June 1, 2017. The initial registered size of the fund was RMB 400 million, and the company, as a limited partner, subscribed to contribute RMB 190 million. Since the fund has not carried out any project investment since its establishment, with the unanimous consent of all partners, it has been decided to liquidate it and complete deregistration. This liquidation and deregistration do not need to be submitted to the company's board of directors or shareholders' meeting for review, and will not have a material impact on the company's financial condition or operating results.