Meeting Overview - The 11th meeting of the 10th Board of Directors of Xinyu Steel Co., Ltd. was held, with all 8 directors present, and the meeting complied with legal and regulatory requirements [1] Financial Reports - The Board approved the full and summary report for the first half of 2025, with a unanimous vote of 8 in favor [2] Governance Changes - The proposal to abolish the Supervisory Board and its rules was approved, with the Audit and Risk Committee of the Board taking over its responsibilities, pending shareholder approval [2] - The Board agreed to change the registered capital and amend the Articles of Association, also pending shareholder approval [2] - The Board approved amendments to four governance documents, including the Rules of Procedure for Shareholders' Meetings, which will be submitted for shareholder approval [3] Policy Revisions - The Board approved revisions to 11 management systems, including the Information Disclosure Management System, in accordance with the new Company Law effective July 1, 2024, pending shareholder approval [3] Investment Strategy - The Board proposed to utilize idle funds for financial investments, with a limit of up to 3 billion yuan, allowing for rolling use within this limit, and the investment period for individual products not exceeding one year, pending shareholder approval [3] Asset Management - The Board approved a proposal to recognize asset impairment losses totaling 17.2689 million yuan, which will reduce the net profit for the first half of 2025 by the same amount [5] Risk Assessment - The Board reviewed a risk assessment report for Baowu Financial Company, with non-related directors voting in favor [5] Upcoming Meetings - The Board scheduled the third extraordinary general meeting of shareholders for September 8, 2025, with details to be disclosed [5]

Meeting Overview - The supervisory board meeting was held on August 9, 2025, with all members present [1] - The board confirmed that the procedures for preparing and reviewing the 2025 semi-annual report complied with legal and regulatory requirements, and the report accurately reflected the company's situation [1] Financial Assessment - The supervisory board conducted a comprehensive review of financial instruments as of June 30, 2025, and found that the credit loss provisions were appropriate and aligned with relevant policies [1][2] - The board agreed that the asset impairment provisions accurately reflected the company's financial status and would not adversely affect governance or compliance [2] Asset Management - The company plans to dispose of non-current assets that have no remaining value or where the costs of continued use exceed the economic benefits, in accordance with legal and accounting policies [2] - The supervisory board assessed the risk report regarding financial transactions with Sichuan Changhong Group Financial Co., Ltd. and deemed the risks manageable [2] Investment Strategy - The company intends to invest up to 1.2 billion RMB in low-risk, high-liquidity bank wealth management products, which will enhance the efficiency of fund utilization without impacting normal operations [3] - The board confirmed that the decision-making process for this investment aligns with legal requirements and protects the interests of all shareholders [3] Financial Reporting Adjustments - The company has sufficient basis for retrospective adjustments to financial statements related to business combinations under common control, ensuring that the adjusted reports accurately reflect financial status and performance [3]

Group 1: Investor Relations Activities - The company participated in the online collective reception day for listed companies in Hubei on June 12, 2025, from 14:00 to 16:40 [2] - The event was conducted remotely via the investor relations interactive platform [2] - Key company representatives included CEO Zhang Quan, CFO Peng Gang, and Secretary of the Board Cao Zheng [2] Group 2: Project and Resource Development - The company is actively seeking quality resource project investment opportunities nationwide [3] - There are currently no plans to collaborate with popular IPs like labubu for the Muxin Valley project [3] - The company has not initiated any employee stock incentive plans [3] Group 3: Financial Management and Asset Valuation - The company conducts annual asset impairment testing and engages professional evaluation agencies to ensure accurate financial reporting [4][5] - The company adheres to the Shenzhen Stock Exchange's regulations and accounting standards regarding asset impairment [5] - There are no plans for significant impairment provisions this year; results will be disclosed in the year-end report [4] Group 4: Marketing and Product Development - The company is enhancing its marketing strategies through innovative promotions and sales models, including cross-industry activities and self-media operations [3] - New immersive experiences have been introduced at the Hainan Monkey Island Park to cater to family audiences [3] - The company aims to improve operational efficiency and brand reputation through technology innovation and quality service [3] Group 5: Safety and Insurance Measures - All projects under the company have purchased property and accident insurance covering facilities, staff, and visitors [5] - The company emphasizes safety measures in its operations to ensure visitor security [5] Group 6: Future Growth and Investment Potential - The company possesses significant growth potential in tourism transportation and scenic area operations, with opportunities for both upgrading existing projects and developing new ones [5] - There are currently no plans for share buybacks by major shareholders [5]