Core Viewpoint - Wolong New Energy Group Co., Ltd. has completed the transfer of 90% equity in Wolong Mining (Shanghai) Co., Ltd. to Zhejiang Wolong Shunyu Investment Co., Ltd., marking a significant asset sale and related transaction [1]. Group 1: Transition Period - The transition period for the asset transfer is defined as from January 1, 2025, to June 30, 2025, based on the agreement signed with Wolong Shunyu [2]. Group 2: Profit and Loss Arrangement - According to the share sale agreement, if the target company generates profits or experiences an increase in net assets during the transition period, the profits and increases will be retained by the listed company. Conversely, any losses or decreases in net assets will be borne by Wolong Shunyu [3]. Group 3: Audit Findings - The special audit conducted by Zhongxinghua Accounting Firm revealed that during the transition period, the target company achieved a net profit of RMB 13,412,909.45, with no losses or decreases in net assets. Therefore, the counterparty is not required to bear any compensation responsibility, and the earnings generated during this period will be enjoyed by the listed company [4].

Group 1 - The company has approved the transfer of 100% equity of its wholly-owned subsidiary, Shenzhen Wanrun Mining Co., Ltd., to Shenzhen Zhongzhu Mining Investment Partnership (Limited Partnership) for a transaction price of RMB 315 million to optimize asset allocation and focus on core business [2] - The company has received the full payment of RMB 315 million from Shenzhen Zhongzhu, and the industrial and commercial change registration was completed on April 28, 2025 [2] - As of April 30, 2025, Shenzhen Zhongzhu has become the shareholder of Wanrun Mining, and the company no longer holds any equity in Wanrun Mining, resulting in a change in the scope of the company's consolidated financial statements [3]