According to the Hainan Mining announcement, the company plans to issue shares and pay cash to purchase 69.90% of Luoyang Fengrui Fluorine Co., Ltd.'s shares and raise supporting capital. The transaction constitutes a related transaction. Previously, the company has disclosed the responses and revised drafts of the Shanghai Stock Exchange review inquiry letter twice. It has now completed an additional audit and document update with June 30, 2026 as the reference date, and has once again revised, added, and disclosed the response to the inquiry letter. The transaction still needs to be reviewed by the Shanghai Stock Exchange and registered by the Securities Regulatory Commission before it can be implemented. There is uncertainty about whether and when it will be approved.

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