Sains: The company's ammonium perrhenate products are not yet available for sale, and the molybdenum processing and sales business is still in the early stages of development.

Sailings issues a notice of abnormal trading. The closing price of the company's stock has deviated by 30% for three consecutive trading days, which falls under the category of abnormal stock trading fluctuations according to the relevant provisions of the Shanghai Stock Exchange Trading Rules and the Shanghai Stock Exchange Science and Technology Innovation Board Stock Abnormal Trading Real-time Monitoring Rules. As of now, the company's ammonium perrhenate products have not been sold to the public; the company's molybdenum processing and sales business is still in the early stages, and it will be accounted for under the net method starting in 2026. It is expected that this business will have a minimal impact on the company's operating income. Additionally, until revenue and profits from rhenium resources are realized, this business may have a certain impact on the company's cash flow and profitability in the short term.