Hunan Silver: The 3.02 billion yuan raised in 2025 will be used entirely to supplement working capital.

Hunan Baimintang announced that on March 19, 2024, the company raised 302 million yuan through non-public issuance, with a net amount of 302 million yuan after deducting registration fees. As of December 31, 2025, the company has used a total of 302 million yuan of funds raised, of which 302 million yuan was used in previous years, and the balance of unused funds at the end of the year is 180 thousand yuan. The company has cancelled the special account for the raised funds on March 30, 2026, and all the funds raised have been used to supplement working capital. The independent financial advisor believes that the storage and use of funds raised by the company in 2025 comply with relevant regulations and there is no violation of regulations.