Announcement on Completion of Business Registration Change of Controlling Shareholder's Executive Partner and Partnership Structure, and Change of Actual Controller

The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.

Special Risk Warning:

1. On April 21, 2026, the company signed a "Restructuring Investment Agreement" with industrial investor Luoyang Hongchuang Enterprise Management Center (Limited Partnership) ("Luoyang Hongchuang"). Mr. Li Wenhao has no relationship with Luoyang Hongchuang, Luoyang Refining Hongli Chemical Co., Ltd., Luoyang Refining Hongda Industrial Co., Ltd., Luoyang Guohong Investment Holding Group Co., Ltd., Luoyang Industrial Holding Group Co., Ltd., and the State-owned Assets Supervision and Administration Commission of Luoyang Municipal Government.
2. The Intermediate People's Court of Hengyang, Hunan Province ("Hengyang Intermediate Court" or "Court") has agreed to allow Jinhong Holdings to proceed with an out-of-court restructuring, which does not represent formal acceptance of the company's restructuring. As of the date of this announcement, there is uncertainty regarding whether the court will accept the restructuring and whether it will enter the restructuring process. Investors are advised to pay attention to investment risks.
3. Although the "Restructuring Investment Agreement" has been signed, there may still be risks of termination, cancellation, invalidation, or non-performance of the agreement; there may also be risks related to the inability of the restructuring investors to fulfill investment obligations due to insufficient funding. Investors are advised to pay attention to investment risks.
4. The company's stock will continue to be subject to other risk warnings starting April 29, 2026. The application submitted to the Shenzhen Stock Exchange ("SZSE") for the removal of some risk warnings is still under review, and there is uncertainty regarding the removal of these warnings. The company will fulfill its information disclosure obligations in a timely manner based on progress. Investors are advised to pay attention to investment risks.