According to the Beijing Lier announcement, the company disclosed a prospectus for issuing A-shares to specific targets in 2026. This fund-raising project includes a project with an annual output of 30,000 tons of composite zirconia and zirconium-based materials for new energy and aerospace, and a refractory material production base construction project in Vietnam. There are risks such as digestion of additional production capacity, product verification, and market development falling short of expectations. The company previously transferred 65.9743% of Lianchuang Lithium Energy's shares for 990 million yuan. The latter completed commercial and commercial changes in August 2026 and included in the consolidated statement. The acquisition had risks such as operation, integration, and impairment of goodwill. The company's revenue scale has increased year by year in the last three years, and net profit after deducting non-net profit in 2025 decreased by 15.88% year on year.

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