Group 1 - The company held a semi-annual performance briefing for 2025 on September 4, 2025, with active participation from online investors [1] - As of August 29, 2025, the company had 17,738 shareholders [1] - The company has ongoing construction projects valued at 280 million yuan, which accounts for 87% of the total revenue for 2024, primarily related to a halted biomass project [1] - The biomass project is listed for sale but has not yet been transacted, posing a risk of impairment losses [1] - The company is actively seeking potential buyers for the project and exploring diversified disposal methods while enhancing risk prevention measures [1] Group 2 - The company currently manages 1.14 million acres of forest land and land use rights [1] - The company is committed to avoiding competition with its controlling shareholder and is steadily advancing its "14th Five-Year" development plan [1] - The company aims to leverage its strengths and capital market tools to improve operational performance and market value [1] - The company is focusing on improving operational efficiency and profitability by expanding business channels in line with national policies [1] Group 3 - The company has formed a specialized team to participate in carbon trading, although current trading volumes are low [1] - The company plans to increase the development of carbon credit projects in the future [1] - Apart from repurchasing shares as per the profit compensation agreement, the company currently has no other share repurchase plans [1]

Group 1: Shareholder Information - As of August 29, 2025, the number of shareholders is 17,738 [2] Group 2: Project and Financial Concerns - The company has 280 million in ongoing construction projects, which accounts for 87% of the total revenue for 2024 [2] - The halted biomass project in Xiong'an has not yet been sold, leading to significant impairment losses affecting company profits [2] - The company is exploring diverse disposal methods for the halted projects to protect its legal rights [2] Group 3: Land and Asset Management - The company currently manages 1.14 million acres of forest land and holds the same amount in land use rights [3] - The company has not experienced any changes in the assets related to the timber yard and warehouse near the railway in Yong'an [3] Group 4: Competition and Compliance - The controlling shareholder is currently fulfilling commitments to avoid competition with the listed company [4] - There are ongoing efforts to ensure compliance with the commitments made by the major shareholder regarding competition [5] Group 5: Carbon Trading and Future Plans - The company has formed a specialized forestry technical service team to engage in carbon trading, although the current trading volume is small [4] - Future plans include increasing the development of carbon credit projects to create new revenue streams [4] Group 6: Stock Repurchase Plans - The company has no current plans for stock repurchase, except for fulfilling obligations under the profit compensation agreement [5]