Shanxi Huayang New Material announced that the company has received the Civil Order issued by Shanghai Financial Court, and its application to revoke the arbitration cause does not fall under the circumstances of statutory revocation of arbitration ruling, and the application has been rejected by the court. The case involves Shanghai Yihe Private Fund Management Co., Ltd., the manager of Lishan No.1 Fund, not fulfilling its obligations as stipulated in the fund contract. The company had filed an arbitration application with the Shanghai Arbitration Commission, requesting a refund of the fund management fee. It is expected that the implementation of this Civil Ruling will have a relatively small impact on the company's net income.