Xin'ao Group: The termination and adjustment of the LNG purchase and sale agreement does not affect financial operations.

New Ao Group announced that in March 2022, its subsidiary New Ao Singapore, New Ao Trading, and ET LNG Export signed an LNG purchase and sale agreement, which was subsequently terminated due to the conditions not being met. In June 2023, New Ao Singapore signed an agreement with Cheneil, reducing the annual contract quantity from 180,000 tons to 90,000 tons due to the conditions not being met. The contract will last for 20 years starting from 2026. This adjustment will not have a significant adverse impact on the company's finances and operations, but there are uncertainties in fulfilling the agreement due to force majeure events.