Jiangsu Changbao Steeltube announcement, the special material project to be invested in and constructed by the Company's subsidiary Jiangsu Changbao Pulsene Steel Tube Co., Ltd. is expected to increase its fixed asset investment from 0.506 billion yuan to 0.703 billion yuan. The ninth meeting of the sixth board of directors of the Company has approved the proposal. This additional investment is based on factors such as equipment selection optimization and upgrading in the project planning and implementation process, which is beneficial to ensure the smooth progress of the project and is in line with the company's long-term development plan. It is expected to be fully completed and put into operation in the third quarter of 2025.