Double-boarded ST Jinglan: The target material business is currently still in the stage of maintenance and production recovery of the acquired production line, and has not generated any related operating income or profit.

ST Jinglan disclosed on April 6th that there was abnormal fluctuation in the stock trading. The closing prices of the company's stock on April 2nd and April 3rd, 2026 deviated by more than 13.49% for two consecutive trading days, which falls under the category of abnormal stock trading. The company's performance has not significantly changed, but the stock price has significantly deviated from the company's performance, indicating market sentiment overheating and irrational speculation risks. Recently, the company's stock price has experienced significant fluctuations due to factors such as market sentiment and speculative trading. Some market views have overly interpreted and had high expectations regarding the company's new business development, asset injections, renaming, and valuation restructuring, leading to a significant deviation from the company's actual performance. The company's target material business is still in the maintenance and recovery phase of the acquired production line, and has not officially started production, nor generated any relevant operating income or profits. In the first three quarters of 2025, the company's revenue from the recycling of zinc and indium-containing hazardous solid waste resources was 316 million yuan. In terms of gross profit margin, the self-produced indium, which accounts for a high proportion of income, has a low gross profit margin of 1%, while the gross profit margins for crude indium, zinc ingots, etc. are negative, and other business income accounts for a low proportion.