Zhongbao New Materials Group Limited (the “Company”) announced audited financial results for the year ended December 31, 2023, showing that revenue increased to RMB365,811 thousand, an increase of 22.0% year-on-year. The gross profit also increased to RMB145,454 thousand. Profit for the year amounted to RMB84,607 thousand, an increase of 48.5% over the previous year. The Company was listed on the Main Board of the Hong Kong Stock Exchange Limited on 31 March 2023 and did not distribute dividends during the year. The Company's main business is the production of biodegradable plastic products and non-biodegradable automotive plastic parts, and actively responds to the environmental policy of the Chinese government, expanding its production base and R&D capabilities. In the future, the company will continue to expand operations and improve its capacity and technology levels to adapt to market demands.

Zhongbao New Materials Group Limited (the “Company”) announced audited financial results for the year ended December 31, 2023, showing that revenue increased to RMB365,811 thousand, an increase of 22.0% year-on-year. The gross profit also increased to RMB145,454 thousand. Profit for the year amounted to RMB84,607 thousand, an increase of 48.5% over the previous year. The Company was listed on the Main Board of the Hong Kong Stock Exchange Limited on 31 March 2023 and did not distribute dividends during the year. The Company's main business is the production of biodegradable plastic products and non-biodegradable automotive plastic parts, and actively responds to the environmental policy of the Chinese government, expanding its production base and R&D capabilities. In the future, the company will continue to expand operations and improve its capacity and technology levels to adapt to market demands.