Hunan Xianggang Ruitai Technology Co., Ltd. entered into a contract to receive CNY 144,208,600 in an equity round of funding on December 22, 2023. The transaction will include participation from returning investors, Xiangtan Iron And Steel Group Co., Ltd. for CNY 64,618,100 to maintain its 44.80880% stake, Hunan Xianggang Ruitai Technology Co., Ltd. Labor Union Committee for CNY 11,776,700 to maintain its 8.16640% stake and returning investor Ruitai Materials Technology Co., Ltd for CNY 67,813,800 to maintain its 47.02480% stake. The transaction was approved by the board of directors of Ruitai Materials Technology Co., Ltd. at its 8th directorate during its 5th meeting and does not require approval by shareholders?

meeting. The capital increase will be carried out in lump sum within 5 working days from signing of this contract. Post-completion of the transaction, the registered capital of the company will increase from CNY 77,698,600 to CNY 221,907,200.