Songfa Co., Ltd. announced that the 18th meeting of the company's 7th board of directors deliberated and passed a number of proposals: First, since it has completed the strategic transformation from traditional ceramic manufacturing to research, production and sales of ships and high-end equipment, it is proposed to change the company name, stock abbreviation, business scope, and amend the company's articles of association. The matter still needs to be submitted to the shareholders' meeting for consideration. After the name change is completed, it will apply to the Shanghai Stock Exchange to change the stock abbreviation. Second, it is proposed to repurchase shares through centralized bidding transactions. The repurchase of shares will be used for employee stock ownership plans or equity incentives, and management will also be authorized to handle specific matters related to this repurchase. Relevant matters will be submitted to the fourth extraordinary shareholders' meeting of the company in 2026 for consideration.

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