[Wanfeng Shares: Proposed to Postpone Investment in 20,000-ton/year 1-nitroanthraquinone Project] Wanfeng Shares announced that its second board of directors, at its tenth meeting held on August 5, 2024, approved the "Proposal on Investing in the Construction of a 20,000-ton/year 1-nitroanthraquinone Project," agreeing to construct a 20,000-ton/year 1-nitroanthraquinone project within the company's existing plant area in Keqiao District, Shaoxing City, with a total estimated investment of 200 million yuan. The 20,000-ton/year 1-nitroanthraquinone project involves a nitration process, which is among the first batch of key monitored hazardous processes, and nitration enterprises are listed as high-risk sub-sectors. On June 29, 2026, the company's third board of directors, at its fifth meeting, approved the "Proposal on Postponing Investment in the 20,000-ton/year 1-nitroanthraquinone Project." According to the relevant provisions of the "Shanghai Stock Exchange Stock Listing Rules" and the "Articles of Association," this postponement of external investment does not constitute a related-party transaction, nor does it constitute a major asset restructuring as defined in the "Measures for the Administration of Major Asset Restructuring of Listed Companies," and therefore does not require submission to the company's shareholders' meeting for review.
