Core Viewpoint - The company has provided a guarantee for its wholly-owned subsidiary, Guizhou Chitianhua Tongzi Chemical Co., Ltd., with a total guarantee balance of 610.3181 million RMB as of January 30, 2026, reflecting an increase of 146.8881 million RMB in January 2026 [2][3]. Summary by Sections Guarantee Overview - The company approved a guarantee for its subsidiaries and affiliates not exceeding 1.8 billion RMB during the 2025 fiscal year, including a maximum of 600 million RMB for third-party guarantees [3]. - The total expected guarantee amount for Tongzi Chemical is capped at 1.6 billion RMB, which includes third-party financing guarantees [3]. Guarantee Details - The company has provided guarantees for various loans, including: - A guarantee for a loan from China Construction Bank with a principal amount not exceeding 400 million RMB [8]. - A guarantee for a loan from Shanghai Pudong Development Bank with a maximum principal of 50 million RMB [10]. - A guarantee for a loan from Postal Savings Bank with a maximum principal of 30 million RMB [12]. Financial Status of the Guaranteed Entity - As of December 31, 2024, Tongzi Chemical reported total assets of 2.7340519 billion RMB, total liabilities of 1.1934340 billion RMB, and net assets of 1.5406179 billion RMB, with a revenue of 2.2481659 billion RMB and a net profit of 179.6234 million RMB for the year [5]. - As of September 30, 2025, the company reported total assets of 2.6817699 billion RMB, total liabilities of 1.0628096 billion RMB, and net assets of 1.6189603 billion RMB, with a revenue of 1.4189974 billion RMB and a net profit of 78.2127 million RMB for the first nine months [6]. Necessity and Reasonableness of the Guarantee - The guarantees are deemed necessary to support the daily operational needs of the subsidiary, with the company maintaining effective control over the operational risks and creditworthiness of Tongzi Chemical [15]. Cumulative External Guarantees - As of the announcement date, the total external guarantee balance of the company and its subsidiaries is 1.2125241 billion RMB, representing 47.65% of the latest audited net assets attributable to shareholders [16].

Company Overview - Linyi Tianze Biotechnology Co., Ltd. has been established with a registered capital of 2 million RMB, fully owned by Yantai Pengxin Investment Co., Ltd. [1] - The legal representative of the company is Li Jun [1] Business Scope - The company's business scope includes technology services, development, consulting, communication, transfer, and promotion [1] - It also involves the production and sales of chemical products (excluding licensed chemical products), high-performance fibers and composite materials, synthetic materials, and specialized chemical products [1] - The company is classified under the manufacturing industry, specifically in the manufacturing of basic chemical raw materials [1] Registration Details - The company is registered in the Linyi Lingang Economic Development Zone, Shandong Province, with its address at People's Road No. 1, Room 1703, Administrative Service Center [1] - The business license allows for domestic trade agency activities, except for projects that require approval [1] - The company is a limited liability company with no fixed term of operation, registered until January 16, 2026 [1]

Core Viewpoint - Recently, Suqian Hongchuang Pilot Chemical Co., Ltd. was established with a registered capital of 50 million RMB, fully owned by Suqian Tongchuang Development Investment Co., Ltd. [1] Company Overview - Company Name: Suqian Hongchuang Pilot Chemical Co., Ltd. [1] - Legal Representative: Luo Lifang [1] - Registered Capital: 50 million RMB [1] - Company Type: Limited Liability Company [1] - Business Duration: Until January 16, 2026, with no fixed term thereafter [1] - Registration Authority: Suqian City Suqiu District Data Bureau [1] Business Scope - The business scope includes: - Production of cosmetics, health food, and pharmaceuticals [1] - Retail of pharmaceuticals (subject to approval) [1] - Production and sales of chemical products (excluding licensed chemical products) [1] - Manufacturing and sales of specialized chemical products (excluding hazardous chemicals) [1] - Technical services, development, consulting, and transfer [1] - Engineering and technical research and development [1] - Management services and consulting [1] - Non-residential real estate leasing [1] - Sales of synthetic materials and bio-based materials [1] - Retail of cosmetics and pre-packaged health food [1] - Manufacturing of basic chemical raw materials (excluding licensed chemicals) [1]

Core Viewpoint - Shandong Heyi Petrochemical Technology Co., Ltd. has been established with a registered capital of 5 million RMB, focusing on the sale of specialized chemical products and various technology services in the chemical industry [1] Company Summary - The legal representative of Shandong Heyi Petrochemical Technology Co., Ltd. is Zhao Xianfeng [1] - The company has a registered capital of 5 million RMB [1] - The shareholders are Shandong Binheng New Materials Co., Ltd. holding 67% and Shandong Runyi Petrochemical Technology Co., Ltd. holding 33% [1] - The company operates in the manufacturing industry, specifically in the production of basic chemical raw materials [1] Business Scope - The business scope includes the sale of specialized chemical products (excluding hazardous chemicals), technology services, technology development, consulting, and transfer [1] - Other activities include the sale of chemical products (excluding licensed chemicals), lubricants, petroleum products (excluding hazardous chemicals), synthetic materials, food additives, and plastic products [1] - The company is also involved in the research and development of energy-efficient technologies for the power industry, as well as the processing and manufacturing of lubricants and petroleum products [1]

Investment Overview - The company held its 23rd meeting of the 9th Board of Directors on December 18, 2025, where it approved the proposal to establish a wholly-owned subsidiary [1] Business Registration Details - The newly established wholly-owned subsidiary, named Baotou Henglu Biotechnology Co., Ltd., has completed its business registration and obtained a business license [1] - The company type is a limited liability company (wholly owned by a legal entity) [1] - The legal representative is Liu Fu'an [1] - The registered capital is 10 million RMB [1] - The establishment date of the subsidiary is December 31, 2025 [1] - The address of the subsidiary is located in Baotou City, Inner Mongolia, specifically at the Education Building of the Sugar Factory in Dongxing Street, Donghe District [1] Business Scope - The subsidiary's business scope includes: - Licensed projects: Food production, health food production, and special medical purpose formula food production [1] - General projects: Sales of special medical purpose formula food, health care services (non-medical), sales of pre-packaged health food, sales of pre-packaged food, technical services, technology development, consulting, and transfer [1] - Import and export of goods, including food and cosmetics [1] - Internet sales (excluding items requiring licenses) [1] - Research and experimental development in engineering and technology [1]

Core Viewpoint - Baofeng Energy has established a new chemical company in Ningxia with a registered capital of 1 billion yuan, indicating its expansion into the specialized chemical products market [1] Group 1 - Ningxia Saino Chemical Co., Ltd. has been founded with a registered capital of 1 billion yuan [1] - The company's business scope includes the manufacturing and sales of specialized chemical products (excluding hazardous chemicals) and daily chemical products [1] - Baofeng Energy holds 100% ownership of Ningxia Saino Chemical Co., Ltd. [1]

Core Viewpoint - Ningxia Saino Chemical Co., Ltd. has been established with a registered capital of 1 billion yuan, focusing on the manufacturing and sales of specialized chemical products, excluding hazardous chemicals [1] Company Summary - Ningxia Saino Chemical Co., Ltd. is fully owned by Baofeng Energy (600989) [1] - The company's business scope includes the manufacturing of daily chemical products [1]

Group 1 - Ningxia Baofeng Energy Group Co., Ltd. has invested 100 million RMB to establish Ningxia Sino Chemical Co., Ltd., holding 100% of the shares [1] - Ningxia Sino Chemical Co., Ltd. was founded on December 30, 2025, with a registered capital of 100 million RMB and is located in Yinchuan City [1] - The company operates in the chemical raw materials and chemical products manufacturing industry, focusing on the production and sales of specialized chemical products, daily chemical products, and petroleum products, excluding hazardous chemicals [1] Group 2 - The legal representative of Ningxia Sino Chemical Co., Ltd. is Yi Chaoshan [1] - The company is authorized to engage in various activities including technical services, development, consulting, and promotion, as well as the production and sales of non-licensed chemical products [1]

Group 1 - The core point of the article is the establishment of Jiangxi Songbai Technology Co., Ltd., which is fully owned by Shenzhen Songbai Technology Co., Ltd. with a registered capital of 5 million RMB [1] - The legal representative of Jiangxi Songbai Technology Co., Ltd. is Rao Meng [1] - The company operates in the manufacturing industry, specifically in the production of specialized chemical products (excluding hazardous chemicals), new material technology research and development, and artificial intelligence software development [1] Group 2 - The registered address of Jiangxi Songbai Technology Co., Ltd. is located at No. 289, South Tang Road, East District, Jinggangshan Economic and Technological Development Zone, Ji'an City, Jiangxi Province [1] - The company is classified as a limited liability company (non-natural person investment or holding) with an operational period until December 18, 2025, with no fixed term [1] - The business scope includes software outsourcing services, intelligent basic manufacturing equipment manufacturing, and sales of artificial intelligence hardware [1]

Core Viewpoint - Anhui Shuo Ming Yu Chemical Co., Ltd. has been established with a registered capital of 5 million RMB, focusing on various chemical products and materials sales, as well as technology services and development [1] Group 1: Company Overview - The company is legally represented by Gou Zhenqiang [1] - The registered capital of the company is 5 million RMB [1] Group 2: Business Scope - The company engages in the sales of general chemical products (excluding licensed chemical products) [1] - It specializes in the sales of new catalytic materials and additives, specialized chemical products (excluding hazardous chemicals), and bio-based materials [1] - The company also focuses on the sales of construction and decoration materials, corrosion-resistant materials, insulation materials, coatings (excluding hazardous chemicals), and surface functional materials [1] - Additional offerings include ecological environment materials, labor protection products, hardware products wholesale and retail, and various technical services such as development, consulting, and transfer [1] - The company is involved in the sales and leasing of mechanical equipment, as well as the sales of metal products and graphene materials (excluding licensed businesses) [1]