Huafeng Corporation: Wholly-owned subsidiary and related party jointly invest to establish a joint venture company and build a high-voltage chemical conversion foil production line project with an annual output of 4 million square meters.

Huafeng Group Announcement: The company's wholly-owned subsidiary, Zhaoqing Gaoyao District Huafeng Electronic Aluminum Foil Co., Ltd., plans to jointly invest with related party Zhaoqing Huaying Commercial Investment Co., Ltd. in establishing a joint venture company, Xinjiang Huafeng New Material Technology Co., Ltd., with a registered capital of 20 million RMB. Among them, Gaoyao Huafeng will invest 12 million RMB, accounting for 60% of the registered capital; Huaying Investment will invest 8 million RMB, accounting for 40% of the registered capital. The joint venture company plans to build a production line for high-pressure chemical conversion foil with an annual output of 4 million square meters, with a total investment of 210 million RMB. The project will be implemented in two phases, with the first phase expected to be completed by the end of 2026 and the second phase expected to be completed by the second half of 2027, with a total annual production capacity of 4 million square meters of high-pressure chemical conversion foil. This transaction constitutes a related party transaction, but does not constitute a major asset restructuring.