Yaben Chemicals: The company's chlorpyrifos benzoylamide intermediate products are produced using the CDMO model and do not participate in market competition.

Yabon Chemical stated during institutional research that its subsidiary, Nantong Yabon Chemical Co., Ltd., has a production capacity of 2000 tons/year for the intermediate K acid of Chlorfenapyr. It adopts the CDMO business model and can provide customized production and delivery according to customer orders. Currently, the company supplies this product exclusively to a single customer and does not sell it on the market. The related business is still operating normally and continues to supply to customers. Regarding the renewal of the cooperation agreement, the company has received the customer's intention to extend. Due to adjustments in the market supply and demand structure and customer strategies after the expiration of downstream product patents, both parties still need to further negotiate the terms of the agreement and have not formally signed a new agreement. The signing of the new period of cooperation agreement requires both parties to work together and reach a consensus. The company's Chlorfenapyr intermediate product adopts the CDMO model and does not participate in market competition. As of now, this event has not had a negative impact on the company's business. Since the company supplies this product to a single customer, any changes in orders need to be specifically negotiated with the customer, and the impact on the company's business and performance cannot be predicted at the moment.