Group 1 - The company held its 17th meeting of the 8th Board of Directors on December 25, 2025, where all 8 directors attended, and the meeting complied with legal requirements [1] - The board approved the proposal to postpone certain fundraising investment projects, which will be submitted for shareholder approval [2][3] - The board also approved the use of idle fundraising funds to temporarily supplement working capital, which will also require shareholder approval [4][5] Group 2 - The company’s wholly-owned subsidiary, Xinjiang XinSai Trading Co., Ltd., has been in a state of continuous losses and initiated bankruptcy liquidation in 2022 due to insufficient assets to cover debts [9] - The bankruptcy process was officially concluded on December 19, 2025, with the company receiving a court ruling to terminate the bankruptcy proceedings [10][12] - The termination of the bankruptcy process and subsequent deregistration will not affect the company's current business operations or financial statements significantly [12] Group 3 - The company plans to extend the timeline for the "Annual Processing of 200,000 Tons of Cottonseed Concentrated Protein and Deep Processing Project" to December 31, 2026, based on prudent principles and current project conditions [21][24] - The delay is attributed to changes in the market environment affecting the cottonseed protein processing industry, including fluctuations in the livestock industry and cautious procurement strategies from downstream customers [25][26] - The company will implement measures to ensure the project is completed on schedule after the extension, including close monitoring of market changes and establishing a special working group for project management [27][28] Group 4 - The company will hold its first temporary shareholders' meeting of 2026 on January 12, 2026, with both onsite and online voting options available [33][34] - The meeting will discuss the proposals that have already been approved by the board, ensuring that all shareholders, including minority investors, can participate in the voting process [38][39]

Group 1 - The company plans to revise its articles of association and internal governance systems to enhance operational standards and protect investor rights, pending approval from the shareholders' meeting [1][3] - The company has proposed amendments to various internal governance documents, including rules for shareholder meetings and board meetings, which will take effect after shareholder approval [1][3] Group 2 - The company raised a total of RMB 559,999,990.29 through a non-public stock issuance, with a net amount of RMB 554,273,575.20 after deducting issuance costs [3][5] - As of June 30, 2025, the company has utilized RMB 231,474,399.89 of the raised funds, with a remaining balance of RMB 6,259,394.54 [5][6] Group 3 - The company has temporarily used RMB 320,000,000 of the raised funds to supplement working capital, with a plan to return the funds to the designated account by December 20, 2025 [15][16] - The company has not engaged in cash management with the raised funds as of June 30, 2025, and there are no instances of surplus funds being used for non-project purposes [16][17] Group 4 - The company has postponed the investment timeline for certain projects, including the "Huo County Coal Logistics Distribution Line Expansion Project," now expected to be completed by April 2026 [9][10] - The company is conducting a re-evaluation of the feasibility and expected returns of the postponed projects due to external market conditions affecting the coal industry [11][12] Group 5 - The company has changed the use of some raised funds, reallocating part of the funds from the "Hubei New Sai Agricultural Products Logistics Co., Ltd. Phase II Expansion Project" to the "Annual Processing of 200,000 Tons of Cottonseed Concentrated Protein and Deep Processing Project" [18][19] - As of June 30, 2025, the new project has received RMB 65,475,500 in funding, with a progress rate of 51.9% [19][21] Group 6 - The company has ensured compliance with regulatory requirements regarding the management and disclosure of raised funds, confirming no violations have occurred [21][22] - The company will hold a second extraordinary general meeting on September 16, 2025, to discuss various proposals, including those related to the raised funds [24][27]