Some investors asked a joint question from China and China. The United States signed Executive Order No. 14420 on 2026-08‑26 to implement import controls on transformers of 69kV and above in bulk power systems. Excuse me: In the US market that Yantai Transformers plans to develop, are the main network transformers above 69 kV, or distribution network/wind power plants below 69 kV? What is the expected impact of the Executive Order on the US market for the company's transformer business? On September 23, the company replied that the executive order mainly targets foreign-made high-capacity power system equipment used in the US power grid, and had little impact on the Yantai Transformer Company acquired by the company; in addition, the company has taken such risks into account when entering the power transmission and transformation business, and will consider adjusting the business layout and sales strategy in due course in the future according to business development and policy conditions. The company will continue to monitor the relevant policy situation and respond positively to market and policy changes. Investors are kindly requested to be aware of investment risks.

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