Lanshi Heavy Industries: Panjin Haoye EPC project postponed to March 2027.

Lanshi Heavy Industries announced that the company privately issued shares in December 2021, raising a net amount of 1.299 billion yuan. Among them, the Panjin Haoye 360,000 tons/year heavy oil hydrocracking EPC project has invested 313 million yuan of the funds raised, with a progress rate of 97.78% and a project construction progress of 95%. Due to reasons related to the owner, the project has been temporarily suspended and the completion time of the final project cannot be determined. The company plans to extend the project completion date from March 2026 to March 2027 in order to achieve the predetermined operational status. This matter has been reviewed by the board of directors and does not require submission to the shareholders' meeting. The sponsoring institution has no objections to the extension.