Xianglou New Material: Controlling shareholder and its persons acting in concert are exempt from making a tender offer for subscribing shares.

Shanglou New Materials announced that the subscribers for this issuance are Qian Hesheng and Hesheng Holdings, both of whom are acting in concert. Before the issuance, Qian Hesheng directly and indirectly controlled a total of 51,556,763 shares of the company, accounting for 31.31% of the total share capital; after the issuance, they collectively held 53,617,742 shares, representing 32.16%, with no change in the ultimate controller. The company has obtained necessary approvals or authorizations for this issuance, and the subscription complies with the provisions of the "Acquisition Management Measures" exempting from the need to issue a tender offer. The subscribers have promised not to transfer the shares within the stipulated period.