Xingfa Group announced that recently, the Yichang Municipal State-owned Assets Administration Commission issued the “Yichang Municipal People's Government's State-owned Assets Supervision and Administration Committee's Approval on Matters Relating to the Issuance of A-shares to Specific Targets by Hubei Xingfa Chemical Group Co., Ltd. in 2026”, agreeing in principle to the company's 2026 plan to issue A shares to specific targets. The company's current plan to issue A-shares to specific targets still needs to be reviewed and approved by the company's shareholders' meeting, reviewed and approved by the Shanghai Stock Exchange, and registered with the China Securities Regulatory Commission before it can be implemented.

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