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**[Major Corporate Events]** Yanjiang Co., Ltd. announced plans to acquire a controlling stake in Yongqiang Technology, leading to a trading halt in its shares. Yanjiang Co., Ltd. announced that the company intends to acquire control of Ningbo Yongqiang Technology Co., Ltd. by issuing shares and paying cash, and to raise supporting funds. This transaction is expected to potentially constitute a major asset reorganization. Due to uncertainties surrounding the matter, and to protect investor interests and avoid significant impact on the company's securities trading, the company's shares will be suspended from trading starting at the market open on January 5, 2026. The company expects to disclose the transaction plan within no more than 10 trading days.

Fangda Carbon announced the termination of its participation in the substantive consolidation and restructuring of Shanshan Group and its wholly-owned subsidiary. Fangda Carbon announced that on November 24, 2025, the company agreed to participate in the recruitment of investors for the substantive consolidation and restructuring of Shanshan Group Co., Ltd. and its wholly-owned subsidiary, Ningbo Pengze Trading Co., Ltd. However, due to the short and insufficient duration of the due diligence, a reasonable value judgment of the target assets could not be made. Concurrently, considering the company's strategic plans in the new materials and new energy sectors, the company decided to terminate its involvement in the restructuring matter. This decision will not adversely affect the company's production, operations, or financial condition, and does not harm the interests of the company or its minority shareholders.

Tongling Nonferrous Metals Group announced a delay in the Phase II project of the Mirador copper mine, which is expected to impact the company's 2026 operating performance. Tongling Nonferrous Metals Group announced that the Phase II project of the Mirador copper mine, operated by its controlling subsidiary China Railway Construction Copper Crown Investment Co., Ltd., is expected to be delayed. The project was originally scheduled for completion in June 2025, with trial production from July to December 2025, and official operation commencing in early 2026. However, due to political volatility and frequent personnel changes in Ecuador, the signing progress of the "Mining Contract" has been affected. Official operational work can only proceed after the "Mining Contract" is signed. Currently, the official operational timeline for the Mirador copper mine Phase II project remains uncertain and is expected to have a certain impact on the company's 2026 operating performance.

Sinomine Resource Group announced the ignition and trial operation of its 30,000-ton high-purity lithium salt technical upgrade project. Sinomine Resource Group announced that the 30,000-ton per year high-purity lithium salt technical upgrade project, constructed by its wholly-owned subsidiary Sinomine Lithium Industry, has completed construction and obtained trial production filing. It commenced trial production operations with ignition and feeding on January 2, 2026. The total project investment is 120.7442 million yuan. Upon operation, the company will possess a total annual battery-grade lithium salt production capacity of 71,000 tons, further enhancing the comprehensive competitiveness of its lithium salt business.

China National Nuclear Power announced that the No. 2 unit of the Fujian Zhangzhou Nuclear Power Plant is ready for commercial operation. China National Nuclear Power announced that the No. 2 unit of the Fujian Zhangzhou Nuclear Power Plant, invested in and controlled by its subsidiary CNNC Guodian Zhangzhou Energy Co., Ltd., completed its 168-hour full-power continuous operation assessment on January 1, 2026, meeting the conditions for commercial operation. The No. 2 unit utilizes China's independently developed "Hualong One" nuclear power technology, with a rated electrical capacity of 1.212 million kilowatts. Following the operation of this unit, the number of nuclear power units under the company's control and in operation increases to 27, and the installed capacity rises from 25,000 MW to 26,212 MW.

Goke Microelectronics announced the successful internal testing of its newly developed neural network processor DPNPU IP product. Goke Microelectronics announced that its newly developed neural network processor DPNU (Dataflow Parallel NPU) IP product recently achieved success in internal company testing. This product targets high-performance AI processors for edge and endpoint computing, featuring flexible computing power configuration and linear scalability. It adopts an innovative open architecture compliant with the RISC-V instruction set architecture standard, has over 90 built-in neural network operators, and supports multiple quantization methods and mixed-precision computing. Additionally, the company has built a complete software ecosystem, C*Core NPU Studio, to lower the barrier for AI application development. However, the product is currently in the early market introduction phase and has not yet achieved customer application or sales, carrying risks such as slower-than-expected market promotion and customer development, and potential customer validation failure.

Zhongjian Technology announced plans to initiate a collaborative smart robot development project. Zhongjian Technology announced that, to further advance the company's basic research and industrial application in the field of embodied intelligent robots, the board of directors has approved the company to commence preliminary R&D and related work for the "Smart Elite" project. Specific tasks include, but are not limited to: collaborating with a leading terminal equipment provider to promote application scenario analysis and product line definition for quadruped robots and smart robots; co-developing software systems for quadruped robots and smart robots; and forming joint teams for R&D, supply chain management, and market services to carry out product development and commercialization.

Mengwang Technology signed a 60 million yuan cooperative agreement for UAV R&D and production with Shenzhou Liuhe. Mengwang Technology announced that the company recently signed a "Cooperation Agreement" with Jiangxi Shenzhou Liuhe Helicopter Co., Ltd. The two parties have agreed to cooperate on the joint research, development, and production of heavy-lift transport UAV products. Specific product plans will be defined in a separate entrusted technology development contract to be signed between the company's subsidiary and Shenzhou Liuhe. The total R&D amount for the product is 60 million yuan, to be paid by the company's subsidiary to Shenzhou Liuhe in stages.

Shengyi Technology signed a 4.5 billion yuan investment intent agreement for a high-performance CCL project. Shengyi Technology announced that, following friendly consultations with the Dongguan Songshan Lake High-Tech Industrial Development Zone Management Committee and based on the Dongguan municipal government's agreement to promote the land acquisition and storage work for the company's old plant site in Wanjiang district using a comprehensive solution, the two parties have reached a cooperation intent regarding the company's investment in constructing a high-performance copper-clad laminate (CCL) project. They signed the "Dongguan Songshan Lake High-Tech Industrial Development Zone Project Investment Intent Agreement," with an intended investment amount of approximately 4.5 billion yuan, to meet the continuously growing demand for high-performance CCLs.

Longpan Technology plans to invest 2 billion yuan to build a high-performance lithium battery cathode material project. Longpan Technology announced that its controlling subsidiary, Changzhou Liyuan, intends to sign the "High-Performance Lithium Battery Cathode Material Project Cooperation Agreement" and a supplementary agreement with the Jiangsu Jintan Hua Luogeng High-Tech Industrial Development Zone Management Committee. The project is planned to be invested in and constructed by Liyuan (Jiangsu) Technology Co., Ltd., a wholly-owned subsidiary of Changzhou Liyuan, within the Jiangsu Jintan Hua Luogeng High-Tech Industrial Development Zone. It involves building an R&D center and a production base with an annual capacity of 240,000 tons of high-density lithium iron phosphate (LFP). The total planned investment does not exceed 2 billion yuan, funded by the company's own funds or self-raised funds. The production base will be implemented in two phases, with the first phase planning to build 120,000 tons. Changzhou Liyuan will initiate the second phase based on market conditions.

Tianlong Co., Ltd. plans to acquire a 54.87% stake in Suzhou Haomibo for 232 million yuan. Tianlong Co., Ltd. announced that the company intends to acquire a 32.2998% equity stake in Suzhou Haomibo Technology Co., Ltd. for 132 million yuan in cash, and simultaneously invest 100 million yuan to increase its capital, obtaining a 33.3333% stake post-increase. Upon completion of the transaction, the company will hold a 54.8666% stake in Suzhou Haomibo. Suzhou Haomibo is a high-tech enterprise focusing on the development of sensors, primarily 4D millimeter-wave radar, multi-sensor information fusion, and integrated vehicle control. The company stated that this transaction aligns with its development strategy, extending its industrial chain from automotive component supply to smart perception component integration.

Shengyang Co., Ltd. plans to acquire a 51% stake in Daren Hi-Tech for 74.470761 million yuan. Shengyang Co., Ltd. announced that the company intends to use its own funds of 74.470761 million yuan to acquire a 51% equity stake in Shenzhen Daren Hi-Tech Electronics Co., Ltd. Upon completion, Daren Hi-Tech will become a controlled subsidiary of the company and will be included in the company's consolidated financial statements. This transaction does not constitute a connected transaction or a major asset reorganization and does not require submission to the shareholders' meeting for deliberation. The appraisal results indicate that the total equity value of Daren Hi-Tech shareholders was 146.0211 million yuan at the appraisal base date. Daren Hi-Tech is a national high-tech enterprise and a national-level "Little Giant" specializing in the R&D, design, production, and sales of lithium battery management system (BMS) products.

Jincai Interconnected plans to acquire a 51% stake in robot components company Wuxi Sanli for 63.4308 million yuan. Jincai Interconnected announced that the company intends to use its own funds of 63.4308 million yuan to acquire a 51% equity stake in Wuxi Sanli Robot Technology Co., Ltd. through a combination of share acquisition and capital increase. Upon completion, Wuxi Sanli will become a controlled subsidiary of the company and be included in its consolidated financial statements. This acquisition and capital increase to obtain a 51% stake in Wuxi Sanli will directly extend heat treatment technology into the field of robot component manufacturing.

Jingwang Electronics submitted an application for H-share issuance and listing to the Hong Kong Stock Exchange and published the application materials. Jingwang Electronics announced that the company submitted an application on January 1, 2026, to The Stock Exchange of Hong Kong Limited for the issuance of H-shares and listing on the Main Board of the Hong Kong Stock Exchange. On the same day, the application materials for this issuance and listing were published on the Hong Kong Stock Exchange website.

ST易购 (Suning.Com Co.,Ltd.) announced that the shareholder reorganization plan has been approved by the court. ST易购 (Suning.Com Co.,Ltd.) announced that the company recently received an "Informative Letter" from its shareholders, Suning Appliance Group Co., Ltd. and Suning Holding Group Co., Ltd., stating that these shareholders had received a "Civil Ruling" from the Nanjing Intermediate People's Court of Jiangsu Province. The Nanjing Intermediate Court, in accordance with Article 86, Paragraph 2 of the Enterprise Bankruptcy Law of the People's Republic of China, ruled to approve the reorganization plan for Suning Appliance Group Co., Ltd. and 37 other companies and terminate the substantive consolidation reorganization procedure. According to the "Reorganization Plan" ruled by the Nanjing Intermediate Court, 100% of the equity of Suning Appliance Group Co., Ltd. (including its 1.40% stake in Suning易购) and 100% of the equity of Suning Holding Group Co., Ltd. (including its 2.75% stake in Suning易购) will be injected into a reorganization service trust. The administrator will publicly solicit and organize a review committee to select a trust company according to law. The execution period for the reorganization plan is 36 months from the date of the court's ruling of approval. The Suning易购 shares held by Suning Appliance Group Co., Ltd. and Suning Holding Group Co., Ltd. will not be disposed of within three years from the date the "Reorganization Plan" is approved.

Guoguang Electric announced that General Manager Li Ning has been released from residential surveillance and has resumed his duties. Guoguang Electric announced that the company received a "Notice of Change in Residential Surveillance" from the Dingnan County Supervision Commission, stating that the residential surveillance measures against the company's director and general manager, Li Ning, have been lifted and changed to an order to await investigation. Currently, Li Ning has returned to his position and is performing his duties normally. The company's chairman, Zhang Ya, will no longer act on behalf of the general manager and legal representative. The company's production and operations are normal.

Phoenix Shipping announced that the company's actual controller, Li Jianming, has been released from compulsory measures. Phoenix Shipping announced that the company previously disclosed on September 25, 2021, that its actual controller, Li Jianming, had been subjected to residential surveillance at a designated location. Recently, the company learned from its controlling shareholder, Changzhi Nanye Industrial Group Co., Ltd., that Li Jianming was lawfully released from residential surveillance by the Shanxi Provincial Procuratorate on April 11, 2024, and has regained personal freedom. Li Jianming does not hold any position in the company and does not participate in its daily operations or management. To date, the matters involving him personally have not had a significant adverse impact on the company's normal production and operations, internal controls, or corporate governance. The company is currently operating normally, with all business activities proceeding in an orderly manner. As of the date of this announcement, the case involving Li Jianming has not yet been concluded. The company will continue to monitor relevant developments and fulfill its information disclosure obligations in a timely manner.

**[Financial Performance Review]** Longjian Co., Ltd.: 2025 net profit of 405 million yuan, down 2.05% year-on-year. Longjian Co., Ltd. released an earnings report, showing total operating revenue of 17.685 billion yuan for the full year 2025, a decrease of 3.31% year-on-year. Net profit attributable to shareholders of the listed company was 405 million yuan, a decrease of 2.05% year-on-year.

Bailon Eastern: Expects 2025 net profit to increase by 46.34%-70.73% year-on-year. Bailon Eastern announced that, based on preliminary calculations by the finance department, it is estimated that the net profit attributable to shareholders of the listed company for the full year 2025 will be between 600 million yuan and 700 million yuan. This represents an increase of 190 million yuan to 290 million yuan compared to the same period last year (statutorily disclosed data), with a year-on-year growth rate of 46.34% to 70.73%.

BYD: Cumulative sales of new energy vehicles in 2025 reached 4.602 million units, up 7.73% year-on-year. BYD announced that its new energy vehicle production in December 2025 was 419,804 units, compared to 466,441 units in the same month last year. Cumulative production for the year reached 4,537,356 units, compared to 4,304,073 units in the prior year, representing a cumulative year-on-year increase of 5.42%. Sales of new energy vehicles in December 2025 were 420,398 units, compared to 514,809 units in the same month last year. Cumulative sales for the year reached 4,602,436 units, compared to 4,272,145 units in the prior year, representing a cumulative year-on-year increase of 7.73%. The company exported a total of 133,172 new energy vehicles in December 2025. The total installed capacity of new energy vehicle power and energy storage batteries in December 2025 was approximately 27.352 GWh, and the cumulative installed capacity for 2025 was approximately 285.634 GWh.

Changan Automobile: Cumulative sales in 2025 reached 2.913 million vehicles; aggregated revenue approximately 286 billion yuan. Changan Automobile announced that from January to December 2025, the company sold 2.913 million vehicles, including 637,300 vehicles sold overseas. The cumulative aggregated revenue across all channels was approximately 286 billion yuan. In December, Changan Automobile's production was 257,300 vehicles, a decrease of 18.97% year-on-year; sales were 254,800 vehicles, an increase of 1.66% year-on-year. Production of self-owned brands was 215,000 vehicles, down 19.78% year-on-year; sales were 207,800 vehicles, up 4.46% year-on-year. New energy vehicle production was 130,700 vehicles, up 19.08% year-on-year; sales were 115,100 vehicles, up 26.02% year-on-year.

BAIC BluePark: Subsidiary's cumulative vehicle sales in 2025 were 209,576 units, up 84.06% year-on-year. BAIC BluePark announced that its subsidiary, Beijing Electric Vehicle Co., Ltd., produced 35,581 vehicles in December 2025, a year-on-year increase of 208.84%; sales were 35,205 vehicles, a year-on-year increase of 114.56%. From January to December 2025, its cumulative production was 206,284 vehicles, a year-on-year increase of 127.17%; cumulative sales were 209,576 vehicles, a year-on-year increase of 84.06%.

*ST Tianshan: Sold 1,894 head of live animals in December 2025, with sales revenue of 24.5997 million yuan. *ST Tianshan announced that the company sold 1,894 head of live animals in December 2025, generating sales revenue of 24.5997 million yuan. The year-on-year changes were 346.70% and 573.12%, respectively; the month-on-month changes were -34.51% and -30.38%, respectively. The significant year-on-year increase in the number and revenue of live animal sales this month was primarily due to capacity release following the implementation of the company's strategic layout and accurate demand forecasting. The month-on-month decrease was mainly due to concentrated sales in the previous period, with this month representing a normal cyclical adjustment.

**[Shareholding Changes]** Hunan Silver: Shareholder Great Wall Asset reduced its stake to below 5%. Hunan Silver announced that its shareholder, Great Wall Asset, reduced its holdings of the company's shares by 17.91 million shares through centralized bidding transactions from December 11 to 30, 2025, accounting for 0.63% of the company's current total share capital. After the reduction, Great Wall Asset holds 141 million shares of the company, representing 4.999998% of the total share capital, and is no longer a shareholder holding 5% or more. This share reduction complies with the previously disclosed reduction plan, will not lead to a change in the company's control, and will not significantly impact the company's governance structure, shareholding structure, or continuous operations.

**[Share Buybacks]** Shiji Huatong (Rights Protection): Plans to repurchase company shares with 300 million to 600 million yuan. Shiji Huatong announced that the company intends to use its own funds or self-raised funds to repurchase some of its issued ordinary shares (A-sha) through centralized bidding transactions, for the implementation of equity incentive plans or employee stock ownership plans. The repurchase price shall not exceed 25.97 yuan per share, and the total repurchase amount shall be no less than 300 million yuan and no more than 600 million yuan. The repurchase period is 12 months from the date the company's board of directors reviews and approves this repurchase plan.

Dongcheng Pharmaceutical: Plans to repurchase company shares with 100 million to 200 million yuan. Dongcheng Pharmaceutical announced that the company plans to repurchase shares through centralized bidding transactions, with an amount no less than 100 million yuan (inclusive) and no more than 200 million yuan (inclusive), to be used for implementing equity incentives and/or employee stock ownership plans. If the repurchased shares are not fully transferred within three years after the announcement of the repurchase results and share change, the non-transferred repurchased shares will be cancelled following relevant procedures. The repurchase price shall not exceed 18.00 yuan per share, and the repurchase period is 12 months from the date the board of directors approves the plan. The company has convened the 17th meeting of its sixth board of directors to review and approve this repurchase plan.

Kweichow Moutai: Has spent 120 million yuan to repurchase 87,000 shares. Kweichow Moutai announced that the company's share repurchase plan was approved at the shareholders' meeting on November 28, 2025. It will use its own funds to repurchase shares for capital reduction, with a repurchase amount of 1.5 billion to 3 billion yuan, an implementation period of 6 months, and a repurchase price not exceeding 1,863.67 yuan per share. The first repurchase occurred on December 31, 2025, repurchasing 87,059 shares, accounting for 0.0070% of the total share capital, with a total payment of 120 million yuan. The repurchase price ranged from 1,377.22 yuan to 1,385.76 yuan per share.

Contemporary Amperex Technology Co., Limited (CATL): Cumulatively repurchased 15.99 million company A-shares, with a total transaction value of 4.386 billion yuan. Contemporary Amperex Technology Co., Limited (CATL) announced that as of December 31, 2025, the company had cumulatively repurchased 15.99 million of its A-shares through the Shenzhen Stock Exchange trading system via centralized bidding transactions. This represents 0.3628% of the company's total A-share capital on the same day. The highest transaction price was 317.63 yuan per share, the lowest was 231.50 yuan per share, and the total transaction value was 4.386 billion yuan (excluding transaction fees). The company will continue to implement this repurchase plan within the repurchase period based on market conditions.

**[Major Contracts]** Fulongma: Pre-won 10 sanitation service projects in December 2025, with a total first-year service fee of 83.815 million yuan. Fulongma announced that the company pre-won 10 sanitation service projects in December 2025, with a total first-year service fee of 83.815 million yuan (accounting for 1.66% of the company's audited operating revenue for 2024). The total contract value is 220.2552 million yuan. As of the date of this announcement, the company has won 43 sanitation service projects this year, with a total first-year amount of 595.879 million yuan and a total contract value of 1.8746878 billion yuan. This is expected to have a positive impact on the company's operating performance in 2026 and beyond.

**[Refinancing]** Huasu Holdings: Plans a private placement to raise no more than 600 million yuan for supplementing working capital and repaying interest-bearing debt. Huasu Holdings announced that for the 2025 fiscal year, it plans to conduct a private placement of shares to Hubei Hongtai Group Co., Ltd. The number of shares to be issued is 208 million, with an issue price of 2.88 yuan per share. The total funds to be raised shall not exceed 600 million yuan (inclusive), and after deducting issuance expenses, they are intended to be used entirely to supplement working capital and repay interest-bearing debt. This issuance constitutes a connected transaction, and Hongtai Group will subscribe in full with cash. After this issuance, Hongtai Group will hold 16.26% of the shares of the listed company, with a lock-up period of 36 months.

Zhenhua Chemical: Plans to issue convertible bonds to raise no more than 878 million yuan for projects including vitamin K3 co-production with chrome green. Zhenhua Chemical announced that the company plans to issue convertible corporate bonds to unspecified objects, with a total fundraising amount not exceeding 878 million yuan. The funds will be used for a 5,000-ton/year vitamin K3 co-production with 74,000-ton/year chrome green project, a 500,000-ton/year sulfuric acid co-production with 50,000-ton/year chrome powder project, and for supplementing working capital and repaying bank loans.