Xin Fengming announced that Jiaxing Dushan Port Development and Construction Co., Ltd. publicly listed and sold 35% of its shares in Jiaxing Port Dushan Port Development Co., Ltd. on the Zhejiang Property Exchange, with a reserve price of 259 million yuan. Dushan Energy, a wholly-owned subsidiary of the company, plans to participate in the auction of the shares to enhance the autonomous guarantee capabilities of the raw material supply chain, expand terminal throughput, improve handling efficiency, shorten cargo turnover time, reduce logistics costs, provide stable and efficient transportation channels for the supply of raw materials for the company's PTA business, and further enhance the autonomy and resilience of the supply chain. The transaction was reviewed and approved by the 44th meeting of the sixth board of directors of the company. There is no need to submit it to the company's shareholders' meeting for review, it does not constitute a related transaction, and it is not a major asset restructuring.

Xin Fengming announced that Jiaxing Dushan Port Development and Construction Co., Ltd. publicly listed and sold 35% of its shares in Jiaxing Port Dushan Port Development Co., Ltd. on the Zhejiang Property Exchange, with a reserve price of 259 million yuan. Dushan Energy, a wholly-owned subsidiary of the company, plans to participate in the auction of the shares to enhance the autonomous guarantee capabilities of the raw material supply chain, expand terminal throughput, improve handling efficiency, shorten cargo turnover time, reduce logistics costs, provide stable and efficient transportation channels for the supply of raw materials for the company's PTA business, and further enhance the autonomy and resilience of the supply chain. The transaction was reviewed and approved by the 44th meeting of the sixth board of directors of the company. There is no need to submit it to the company's shareholders' meeting for review, it does not constitute a related transaction, and it is not a major asset restructuring.