Newly established casting pipe company: Subsidiary completes acquisition of 100% equity of Huarun Steelmaking with 1.244 billion yuan.

Emerging Casting Pipe announced that on December 9-10, 2025, the 16th meeting of the 10th Board of Directors of the company agreed to acquire 100% equity of Huarun Steel Group by its subsidiary Wuhu Emerging for 1.244 billion yuan. The acquisition does not constitute a related party transaction or a major asset restructuring. The parties to the transaction signed an agreement, completed the registration of property rights by the State-owned Assets Supervision and Administration Commission, changed the registration of industrial and commercial changes, Wuhu Emerging paid the transfer payment, and Hu Run Steel was renamed Jiangyin Emerging Special Steel. Shanghai Taichen Investment paid a custody fee of 55 million yuan, repaid a debt of 1.141 billion yuan, and released the equity pledge. With the completion of the transaction, Wuhu Emerging holds 100% equity of Jiangyin Emerging, which is included in the company's consolidated financial statements.