Baiyunshan: Subsidiary enterprise participated in the completion of private equity fund registration.

Baiyunshan announced that its subsidiary enterprise, Guangyaosecond-phase Fund, cooperated with Guangyacapital and Guangkai Fund to establish Guangyaguangkai Fund, with an investment of 97.5 million yuan. The fund completed its industrial and commercial registration on January 8, 2026, with each partner contributing an initial payment of 120 million yuan. On January 30, it was registered with the China Securities Investment Fund Association. This investment aligns with the direction of Guangyaosecond-phase Fund and is beneficial for expanding its scale and diversifying risks. As of now, the company has cooperated with private equity funds for a total investment of 587 million yuan.