*ST Bagang announced that the company plans to sign a “Supplementary Agreement to Issue Shares to Specific Targets with Conditions” with Huabao Investment to adjust the 2026 sales restriction period. Shares subscribed by Huabao Investment cannot be transferred within 36 months from the date the issuance ends. Transfers between different entities controlled by the same actual controller are not subject to this restriction, and shares transferred to increased share capital are subject to this sales restriction arrangement. This transaction constitutes a related transaction, does not constitute a major asset restructuring, does not need to be submitted to the shareholders' meeting for review, and still needs to be reviewed and approved by the Shanghai Stock Exchange and registered by the Securities Regulatory Commission. There is uncertainty about whether it can be completed.

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