Zhaoxin Corporation: Applies to conduct a judicial auction for the 15% equity of Qinghai Jintai held by Fukan Mining.

Announcement from Zhaoxin Holdings: The Intermediate People's Court of Xining City, Qinghai Province, will conduct a public auction of the equity corresponding to RMB 30.3664 million held by Fukang Mining in Qinghai Jintai Potash Fertilizer Co., Ltd. from August 23, 2025 to August 24, 2025. The starting price is RMB 540 million. The subject of this auction is 15% equity of Qinghai Jintai Potash Fertilizer Co., Ltd. held by Qinghai Fukang Mining Assets Management Co., Ltd. The auction pricing is based on the overall equity value of Qinghai Jintai, which is RMB 4 billion, combined with the auction ratio to determine the starting price. If the auction is successfully completed, it will help optimize the company's asset structure, enhance asset quality, and strengthen the stability and value-added potential of the assets.