On June 28th, Gelunhui announced that, in order to further strengthen business coordination and improve management efficiency, and after careful and friendly consultation between the two parties, the company plans to transfer 51% of its holdings in Zhejiang Haotai Chemical Co., Ltd. (referred to as "Haotai Chemical") to Hui Long (Xiamen) Petrochemical Co., Ltd. (referred to as "Hui Long Petrochemical", holding 49% equity of Haotai Chemical). After the completion of the equity transfer, the company will no longer hold the equity of Haotai Chemical, and Haotai Chemical will no longer be included in the company's consolidated financial statements.

After consultation between the two parties, the price of the equity transfer in this transaction is based on the net assets of Haotai Chemical's balance sheet as of May 31, 2024. The total value of 100% equity of Haotai Chemical is RMB 23,172,191.31. The value of the company's 51% equity in Haotai Chemical is RMB 11,817,818, of which RMB 2,768,619 in accumulated undistributed profits of Haotai Chemical as of May 31, 2024 will be distributed between the two parties according to their respective shareholding ratios. The company realized a profit distribution of RMB 1,411,996, and the remaining amount (RMB 10,405,822) will be paid by Hui Long Petrochemical according to the agreement after the two parties sign the agreement.