Bankai New Materials: The Board of Directors has decided not to redeem the "Bankai Convertible Bonds" in advance.

On August 21, 2025, the second session of the twenty-third meeting of the board of directors of Wankai New Materials Co., Ltd. was held by on-site voting, with all 7 directors in attendance. The meeting approved the proposal "Regarding not redeeming the 'Wankai Convertible Bonds'" with a vote of 7 in favor, 0 against, and 0 abstaining. The board of directors considered the short conversion time of the "Wankai Convertible Bonds" and decided not to redeem them early this time in combination with the market and the actual situation of the company. In addition, for the next six months, if the conditional redemption clause is triggered again, the company will not exercise the early redemption right.