Core Viewpoint - The company has successfully awarded an EPC contract for a boiler renovation project, which is essential for enhancing operational efficiency and competitiveness in the market [1][2] Group 1: Project Details - The EPC contract was signed on July 31, 2025, with a maximum cost of RMB 129.1 million, including potential early completion bonuses [1] - The boiler renovation project includes the construction of a new 150 tons/hour ultra-high temperature and ultra-high pressure circulating fluidized bed boiler, along with various supporting systems [1] - Additional components of the project involve the establishment of flue gas dust removal and denitrification systems, a new seawater desalination system, and upgrades to existing automation and control systems [1] Group 2: Strategic Importance - The renovation is necessary due to the outdated boiler facilities that have been in use for over 20 years, which limits the company's cost-effectiveness and sustainability [2] - The company primarily engages in the production and sale of corn refining products and biochemical products, and lacks the qualifications and capabilities for similar large-scale renovation projects [2] - By outsourcing the boiler renovation project to a qualified EPC contractor, the company aims to reduce administrative costs and select high-quality suppliers through competitive bidding [2]

Core Viewpoint - The company has decided to restart the boiler renovation project at Changchun Dahe and will select a suitable EPC contractor through a public bidding process to carry out the renovation work [1][2]. Group 1: Project Details - The boiler renovation project at Changchun Dahe will be executed under an EPC contract, which includes project design, procurement, and construction responsibilities for the selected contractor [1]. - The bidding announcement for the EPC contract was issued on May 23, 2025, with the bidding period starting on May 26, 2025, and concluding on June 17, 2025 [1]. Group 2: Financial and Operational Context - Changchun Dahe has maintained normal operations throughout 2024, contributing significantly to the company's revenue [2]. - The existing boiler facilities at Changchun Dahe have been in use for over 20 years, utilizing medium/low-pressure boilers, which are less cost-effective compared to the high-temperature/high-pressure options widely used in China [2]. - The renovation aims to upgrade the boiler systems to reduce costs and enhance market competitiveness, aligning with the company's overall sustainability goals [2].