Zhongbao New Materials Group Co., Ltd. (“Zhongbao New Materials”) issued a positive profit warning on March 21, 2024, expecting a significant increase in net profit in 2023. Based on preliminary reviews and assessments, the Company expects 2023 net profit to increase from approximately RMB56.5 million in 2022 to at least RMB80.0 million. The gains mainly came from increased sales revenue and reduced listing expenses for biodegradable roll bags and shopping bags. The Board states that these data are based on the most current available information and unaudited consolidated management accounts. The Company will release audited full-year financial results on March 28, 2024. INVESTORS SHOULD EXERCISE CAUTION WHEN TRADING BAO NEW MATERIALS STOCKS.

Zhongbao New Materials Group Co., Ltd. (“Zhongbao New Materials”) issued a positive profit warning on March 21, 2024, expecting a significant increase in net profit in 2023. Based on preliminary reviews and assessments, the Company expects 2023 net profit to increase from approximately RMB56.5 million in 2022 to at least RMB80.0 million. The gains mainly came from increased sales revenue and reduced listing expenses for biodegradable roll bags and shopping bags. The Board states that these data are based on the most current available information and unaudited consolidated management accounts. The Company will release audited full-year financial results on March 28, 2024. INVESTORS SHOULD EXERCISE CAUTION WHEN TRADING BAO NEW MATERIALS STOCKS.