Yangfan New Materials: Wholly-owned subsidiary Yangfan in Jiangxi has completed rectification and has been approved to resume production.

Yangfan New Materials announced that its wholly-owned subsidiary, Jiangxi Yangfan New Materials Co., Ltd., has completed rectification following a fire accident. After verification by experts on site and approval from the local safety supervision department, Jiangxi Yangfan has been permitted to resume production on July 4, 2025. In addition, Jiangxi Yangfan and its legal representative Yu Lizhi have been fined 50,000 yuan and 40,000 yuan respectively for violating relevant provisions of the Safety Production Law of the People's Republic of China, and the fines have been paid. It is expected that the actual losses from this fire accident will have a certain impact on the company's performance in 2025.