According to Taihua New Materials's announcement, the company previously reviewed and approved the share repurchase plan. It plans to use no less than 40 million yuan and no more than 80 million yuan to repurchase A-share shares for share incentives or employee stock ownership plans. The repurchase price is no more than 12.70 yuan/share, and the repurchase period is within 12 months from the date of review and approval by the board of directors. Recently, the company obtained a special loan commitment letter for stock repurchase issued by the Jiaxing branch of Industrial and Commercial Bank of China Co., Ltd. The bank agreed to provide a special loan for repurchase of no more than 54 million yuan. The loan period is 3 years. The letter of commitment is valid for 1 year from the date of issue. The specific loan matters are subject to the relevant contract signed by the two parties.

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