Baogang Co., Ltd. announced that the company received an administrative penalty decision from the Baotou Market Supervision Administration because it was responsible for the “1.18” major container explosion accident of Baotou Baotou Baogang Rare Earth Sheet Co., Ltd. in Inner Mongolia, and was fined 2 million yuan; 2 relevant staff members were disqualified as special equipment safety management and operators. The 2 personnel were unlisted company-level directors and senior managers. The above penalties will reduce the company's net profit attributable to shareholders of listed companies by 2 million yuan in 2026, and will not cause the company to encounter major illegal and forced delisting situations. Currently, all production and operation activities of the company are being carried out normally and in an orderly manner.

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