Hunan Development: The relevant work involved in the transaction is progressing as planned.

Hunan Development announced that the company plans to acquire 90% of the equity of Hunan Xiangtou Tongwan Water Conservancy and Hydropower Development Co., Ltd., 90% of the equity of Hunan Xiangtou Qingshuitang Hydropower Development Co., Ltd., 95% of the equity of Hunan Xinshao Xiaoxi Hydropower Development Co., Ltd., and 85% of the equity of Hunan Xiangtou Yanling Gaotan Power Generation Co., Ltd. by issuing shares and paying cash to Hunan Xiangtou Energy Investment Co., Ltd., which currently holds these equity interests. At the same time, the company plans to issue shares to raise funds from up to 35 specific investors who meet certain conditions. As of the disclosure date of this announcement, the related work of this transaction is progressing as planned. After completion, the company will convene another board meeting to review the relevant matters of this transaction, and the board of directors will submit the relevant proposals of this transaction to the shareholders' meeting for approval. Apart from the above matters, there are no other significant matters in the planning stage concerning the company and the controlling shareholders, and there are no significant matters that should be disclosed but have not been disclosed.