Shanghai Hi-Road Food Technology Co. Ltd.

Hairong Technology has signed a long-term strategic cooperation agreement with Hema China and others, while Yuntianhua says it will speed up the construction of its phosphogypsum-to-acid project. Hairong Technology agreed to use 130 million yuan of its own funds to acquire a 55 percent stake in Tanghe Food held by Tangdou Technology, with the cooperation period running until December 31, 2030. Yuntianhua stated that accelerating the phosphogypsum-to-acid project can partially reduce reliance on external sulfur purchases and strengthen its independent sulfur resource security capability. In addition, Sanhuan Group plans to repurchase no less than 500 million yuan and no more than 1 billion yuan of its own shares, while TGOOD plans to repurchase no less than 300 million yuan and no more than 600 million yuan of its own shares. A wholly owned subsidiary of Soling Industrial has signed an electronic equipment supply contract with Mitsubishi Heavy Industries worth approximately 130 million US dollars, accounting for 120 percent of the company's audited 2025 annual revenue.

Hairong Technology plans to acquire a 55% stake in Sugar Box Food with its own funds for 130 million yuan. On the evening of July 30, Hairong Technology disclosed that it had signed an equity transfer agreement with Sugar Box Food and Sugar Pocket Technology. After the transaction, Sugar Box Food will become a controlled subsidiary of Hairong Technology and be included in its consolidated financial statements. On the same day, as a condition precedent to closing, Hairong Technology signed a long-term strategic cooperation agreement with Hema China and Sugar Box Food, with the cooperation period running until December 31, 2030. Hairong Technology stated that it will consider acquiring the remaining 45% stake in Sugar Box Food in the future depending on circumstances, in order to enhance profitability and overall competitiveness.