Bolun New Materials: Subsidiary has previously provided cutting tool materials for shield tunneling machines to Tiejian Heavy Industries indirectly.

On July 28th, Boyun New Material stated on the interactive platform that the company did not directly participate in the Yaxia Hydroelectric Station project. However, its subsidiary Boyun Dongfang had indirectly provided cutting tool materials for Tiejian Heavy Industry in the past. Currently, the overall gross profit margin of Boyun Dongfang, including cutting tool materials for shield machines, is low, and the profit contributed by these materials is small.