On 24 April 2024, the Board considered and approved that the Sinopec Shanghai Petrochemical Company Limited (as the vendor) proposed to enter into the Procurement Contract with Precious Metals Branch (as the purchaser), pursuant to which, the Company shall sell the Subject Assets it held to Precious Metals Branch and Precious Metals Branch shall pay approximately RMB 236,230,000 (including tax in total) to the Company. The Procurement Contract will be signed before 30 April 2024. Precious Metals Branch and its designated recycling units holding legally valid qualifications shall pick up the goods by road transport at the location designated by the Company at the time agreed by both parties.

Freight shall be borne by Precious Metals Branch. In the event that the Company fails to deliver the Subject Assets in a timely manner or Precious Metals Branch returns the goods, the defaulting party shall be liable to pay a liquidated damages of 5% of the payment for the undeliverable Subject Assets or the returned part of the goods. In the event of other defaults, the defaulting party shall compensate the other party for the losses caused.

If it is the fault of both parties, each party shall bear the corresponding responsibility.