I. Summary of the Capital Reduction
Guizhou Chuanheng Chemical Industry Co., Ltd. (hereinafter referred to as the "Company") held its fourth meeting of the board on June 2, 2026, and approved the proposal regarding the capital reduction of Hengxuan New Energy Co., Ltd. (hereinafter referred to as "Hengxuan New Energy"). In September 2021, the Company signed a capital contribution agreement with the controlling shareholder, and in October, it established Hengxuan New Energy. The registered capital was 80 million yuan, with the Company holding 48 million yuan, accounting for 60%, and the controlling shareholder holding 32 million yuan, accounting for 40%.