Boyun New Materials Co., Ltd.

Announcement on Abnormal Stock Trading Fluctuations and Risk Warning

Announcement on the Change of Company Secretary

Hunan Boyun New Materials Co., Ltd. announces the resignation of Zeng Guanghui as Company Secretary due to work arrangements, while he continues as Vice President. Chen Cai has been appointed as the new Company Secretary. His qualifications have been reviewed, and he possesses the necessary professional knowledge and management skills.

Announcement of Resolutions of the 28th Meeting of the 7th Board of Directors

Hunan Boyun New Material Co., Ltd. held its 28th Board of Directors meeting on May 18, 2026. The meeting was convened via communication and approved the proposal to change the company's Board Secretary. The resolution passed unanimously with 9 votes in favor.

Announcement on Waiving the Right of First Refusal for Equity in Associated Companies

Announcement of the Resolutions of the Twenty-Seventh Meeting of the Seventh Board of Directors

Hunan Boyun New Material Co., Ltd. 2026 First Quarter Report

This report details Hunan Boyun New Material Co., Ltd.'s financial performance for the first quarter of 2026. Key figures show significant revenue growth and increased net profit attributable to shareholders. The company also reports changes in assets and liabilities, with explanations for major fluctuations. Shareholder information and ownership structure are also presented.

Announcement on the Completion of Share Reduction Plan by Shareholder

Hunan Boyun New Materials Co., Ltd. announces the completion of its shareholder Hunan Xiangtou High-tech Venture Capital Co., Ltd.'s share reduction plan. The shareholder reduced its holdings by 5,730,000 shares, representing 1% of the total share capital, and its shareholding has fallen below 5%. The reduction was conducted via centralized bidding and complied with regulations.

Announcement on Abnormal Stock Trading Fluctuations

Hunan Boyun New Materials Co., Ltd. announces abnormal stock trading fluctuations due to consecutive days of significant price increases, exceeding 20% cumulatively. The company highlights risks including market overheating, irrational speculation, and potential rapid price declines. Investors are urged to make rational decisions and invest prudently, noting the stock's valuation is significantly higher than the industry average.

Prompt Announcement on Shareholders Holding More Than 5% Reducing Holdings to Below 5% and Changes in Equity

Simplified Equity Change Report

This report details Hunan Boyun New Material Co., Ltd.'s equity change. Hunan Xiangtou High-tech Venture Capital Co., Ltd. reduced its holdings by 4,072,000 shares via centralized bidding, decreasing its stake from 5.71% to 4.999993%. This reduction was due to the company's capital needs. No change in control is expected.

Announcement on Abnormal Fluctuations in Stock Trading

Hunan Boyun New Materials Co., Ltd. announces abnormal stock trading fluctuations. The stock price has risen by over 20% in three trading days, exceeding the industry average P/E ratio. The company's main products are aircraft brake systems, carbon/carbon composites, and cemented carbide. Risks include market sentiment, irrational speculation, raw material price volatility, and uncertain future growth.

Announcement on Performance Increase for the First Quarter of 2026

Announcement on Re-appointment of Accounting Firm

Hunan Boyun New Materials Co., Ltd. proposes to re-appoint Lixin Certified Public Accountants (Special General Partnership) as its financial auditor for 2026. Lixin has audited the company's 2025 financial statements and internal controls, with fees of RMB 6.5 million and RMB 1 million respectively. The proposal requires shareholder approval. Lixin has extensive experience and meets independence requirements.

2025 Annual Board of Directors Work Report

This report details the 2025 operational performance and strategic initiatives of Hunan Boyun New Materials Co., Ltd. The company achieved significant revenue and net profit growth, driven by advancements in aerospace and hard alloy sectors. Key outcomes include obtaining FAA certification for a carbon brake disc, securing R&D project funding, and strengthening market position through technological innovation and strategic partnerships. The report also outlines future development plans focused on high-quality growth and market expansion.

2025 Report on the performance of the Audit Committee of the Board of Directors

Resolution of the Seventh Meeting of the Seventh Board of Directors of Hunan Boyun New Materials Co., Ltd.

The seventh special meeting of independent directors of the seventh board of directors of Hunan Boyun New Materials Co., Ltd. was held on March 29, 2026. The meeting reviewed and approved the "Proposal on the Forecast of Related Party Transactions for 2026". The proposal was unanimously approved by the three independent directors.

2025 Annual Report of Independent Director (Xiao Yu)

This report details the independent director's fulfillment of duties in 2025, adhering to laws and company regulations. The director actively participated in board and committee meetings, reviewed proposals, and ensured the protection of shareholder interests. Key activities included reviewing related-party transactions and annual reports, and approving the re-appointment of the accounting firm. The director affirmed their independence and commitment to corporate governance.

2025 Annual Report of Independent Directors (Pan Chuanping)

2025 Annual Report of Independent Directors (Zhou Lan)

2025 Internal Control Audit Report

This report details the internal control audit for Hunan Boyun New Materials Co., Ltd. for the year ended December 31, 2025. The audit was conducted in accordance with relevant standards. The report concludes that the company maintained effective financial reporting internal controls in all material aspects as of December 31, 2025.

2025 Annual Internal Control Evaluation Report

This report evaluates the effectiveness of Hunan Boyun New Materials Co., Ltd.'s internal control system as of December 31, 2025. The company's board of directors, audit committee, and management confirm no material weaknesses were found in financial or non-financial reporting internal controls. The evaluation covers all subsidiaries and key business operations, ensuring compliance with internal control standards.

Announcement on Change of Accounting Policies

Hunan Boyun New Materials Co., Ltd. announces a change in accounting policies as required by the Ministry of Finance regarding standard warehouse receipts. This change aligns with new regulations for financial instruments and will be applied prospectively. As the company currently has no futures business, this policy change will not impact its past or comparable period financial statements.

Audit Committee's Explanation on the Reasonableness of Asset Impairment Provisions

The Audit Committee of Hunan Boyun New Materials Co., Ltd. explains the reasonableness of asset impairment provisions. Based on relevant regulations and company policies, the committee communicated with management and reviewed materials. The provisions are in line with accounting standards and reflect the company's current asset status, ensuring a fairer presentation of financial position and operating results. The committee approves the provisions.

Announcement on Accrual of Asset Impairment Provisions for 2025

Hunan Boyun New Materials Co., Ltd. announces its 2025 asset impairment provisions. The company accrued RMB 49.0384 million in provisions, with RMB 12.126 million reversed. This resulted in a total reduction of RMB 36.9124 million in profit before tax for 2025. The provisions cover accounts receivable, inventory, and intangible assets.

Announcement on Estimated Related Party Transactions for 2026

Hunan Boyun New Materials Co., Ltd. announces its estimated related party transactions for 2026, totaling RMB 20.9167 million. These transactions, covering sales, purchases, and leases, are deemed necessary for the company's development and production. The pricing will be based on market rates, ensuring fairness and no harm to shareholder interests. The board and independent directors have approved the plan.

Announcement of Resolutions of the 26th Meeting of the 7th Board of Directors

The 7th Board of Directors of Hunan Boyun New Materials Co., Ltd. held its 26th meeting via communication. The board approved the performance appraisal results and remuneration for senior management in 2025 and confirmed their term assessment results and incentive payments. This confirms the company's commitment to performance-based compensation and evaluation for its senior leadership.

Announcement of Resolutions of the 25th Meeting of the 7th Board of Directors

The Board of Directors of Hunan Boyun New Materials Co., Ltd. held its 25th meeting, approving the 2025 President's Work Report, the 2025 Board of Directors Report, and the 2025 Asset Impairment Provision. The meeting also approved the 2025 Annual Report and Internal Control Report, and a credit line application.

Announcement on Proposed Non-Distribution of Profits for 2025

Hunan Boyun New Materials Co., Ltd. announces its 2025 profit distribution proposal. The company plans no cash dividends, bonus shares, or capital reserve transfers due to accumulated losses. This decision aligns with relevant laws and regulations, as the company's distributable profits remain negative.

2025 Annual Report on the Storage, Management, and Use of Raised Funds

This report details the storage, management, and use of raised funds for Hunan Boyun New Materials Co., Ltd. in 2025. The company raised RMB 631,096,598.80, with a net amount of RMB 626,159,806.38 after expenses. As of December 31, 2025, RMB 58,007.28 was used, with RMB 2,231.62 remaining in the dedicated account and RMB 2,966.73 used for working capital.

2025 Audit Report on the Storage, Management, and Use of Raised Funds

This report provides an independent auditor's opinion on Hunan Boyun New Material Co., Ltd.'s handling of raised funds for 2025. The auditors conclude that the company's report accurately reflects the storage, management, and use of funds in accordance with regulations. The report details fund usage, project progress, and confirms no material issues were found in the company's disclosures.

China Merchants Securities Co., Ltd. Report on the Special Audit of Hunan Boyun New Material Co., Ltd.'s Fund Raising, Management, and Use in 2025

This report audits Hunan Boyun New Material Co., Ltd.'s fund raising, management, and use for 2025. The company raised RMB 626,159,806.38 net. As of December 31, 2025, RMB 58,007.28 million was used, with RMB 2,231.62 million remaining in dedicated accounts. No changes were made to project locations or methods in 2025.