Xiamen Tungsten: Plans to sign a framework agreement for daily related-party transactions with Zhonglan High-Tech

Xiamen Tungsten announced that the company plans to sign a "Framework Agreement for Daily Related-Party Transactions" with its related party Xiamen Zhonglan High-Tech Co., Ltd., setting out the types, pricing principles, and other matters of daily related-party transactions between the two parties, with the agreement valid for 3 years. The related-party transactions cover procurement and sales, provision and acceptance of services, leasing, and other matters related to daily operations, with pricing following the principle of fairness. Because the company's vice president Fang Qi serves as chairman of Zhonglan High-Tech, Zhonglan High-Tech is a related legal person of the company. This matter has been reviewed and approved by the company's board of directors and still needs to be submitted to the shareholders' meeting for review, at which related shareholders will abstain from voting.