Guosen Securities: One-third of the directors have changed.

Guosen Securities Announcement: Starting from January 1, 2025, there has been a change in some directors of the company. Mr. Liu Xiaolao and Ms. Zhang Rui have resigned, Mr. Hu Hao has been appointed as a non-independent director, Mr. Li Ming has been appointed as an employee director, Mr. Yi Longxin and Mr. Zhang Shouwen have been appointed as independent directors. The number of changes has reached one-third of the company's directors. After resigning, Mr. Liu Xiaolao will no longer hold any positions in the company or its subsidiaries. Ms. Zhang Rui was relieved of her independent director role due to not attending two consecutive board meetings. The newly appointed personnel comply with legal regulations and company articles of association requirements, and the changes have no adverse impact on the company's governance, daily management, production operation, and debt repayment capabilities.