Shenzhen Xinxing: Wholly-owned subsidiaries and related personnel have been punished by administrative penalties for environmental issues.

Shenzhen Xinxing announced that its wholly-owned subsidiary Songyan New Energy and its legal representative and general manager Zhong Shengxian received an "Administrative Penalty Decision" issued by the Ganzhou Ecological Environment Bureau. An inspection on November 23, 2025 found that Songyan New Energy's "Fluoride Salt Production Base Project" started production without completing the environmental protection acceptance inspection, in violation of relevant regulations. Songyan New Energy was fined 640,000 yuan, while Zhong Shengxian was fined 100,000 yuan. The company has been urged to make corrections, and Songyan New Energy is currently installing environmental protection equipment. After completion, an environmental protection inspection will be carried out, and the relevant personnel have already paid the fines. This matter has no significant adverse impact on the company's production and operation.