Zhi Zheng shares: Major asset replacement and other transactions have not been completed, and work is underway to implement them.

Zhizheng Corporation announced that the company intends to acquire equity and control of Advanced Packaging Materials International Limited through a major asset swap, share issuance, and cash payment, while divesting 100% equity of Shanghai Zhizheng New Materials Co., Ltd. and raising funds. In September 2025, the company received approval from the China Securities Regulatory Commission for the registration application for this transaction. As of now, the company and the transaction party are actively advancing the implementation work, having received the notice of approval for overseas investment projects from the National Development and Reform Commission, but have not completed the overseas investment filing procedures with the Ministry of Commerce. The company will continue to progress and disclose developments in a timely manner.