Ningbo Fuda announced that the 18th board meeting of the 11th board of directors of the company deliberated and passed the “Proposal on Kehuan Company's Intent to Cancel its Participation in Shangfeng Kehuan Company” and agreed that the holding subsidiary Ningbo Kehuan New Building Materials Co., Ltd. cooperated with Zhejiang Shangfeng Building Materials Co., Ltd. to liquidate and cancel Zhejiang Shangfeng Keyuan Building Materials Co., Ltd. by means of capital reduction and cancellation. The matter does not involve a related transaction, does not constitute a major asset restructuring, and does not need to be submitted to the shareholders' meeting for consideration. The result of the vote was 7 votes in agreement, 0 against, and 0 abstentions.

Ningbo Fuda announced that the 18th board meeting of the 11th board of directors of the company deliberated and passed the “Proposal on Kehuan Company's Intent to Cancel its Participation in Shangfeng Kehuan Company” and agreed that the holding subsidiary Ningbo Kehuan New Building Materials Co., Ltd. cooperated with Zhejiang Shangfeng Building Materials Co., Ltd. to liquidate and cancel Zhejiang Shangfeng Keyuan Building Materials Co., Ltd. by means of capital reduction and cancellation. The matter does not involve a related transaction, does not constitute a major asset restructuring, and does not need to be submitted to the shareholders' meeting for consideration. The result of the vote was 7 votes in agreement, 0 against, and 0 abstentions.