Fortress: Intends to cancel the holding subsidiaries and holding affiliated companies.

Folate announced that the company held a board meeting on April 29, 2026, and agreed to cancel its subsidiaries Jiaxing New Materials Company and subsidiary Folate New Energy. Jiaxing New Materials Company has a registered capital of 70 million yuan, with revenue of 1.013 million yuan in 2025 and a net loss of 20.5781 million yuan; Folate New Energy has a registered capital of 30 million yuan, with revenue of 0.793 million yuan in 2025 and a net profit of 2.245 million yuan. Due to the intense competition in the photovoltaic industry, both companies have poor sales, sustained losses, and have ceased production. The cancellation is aimed at consolidating resources and will not have a significant impact on the company's operations and profits.