Siquan New Materials announced that the company and Zhongke Xingtu, Huanju Tuoyu, and Xingxin Juxin jointly invested to establish Zhongke Xinghai. The company invested 2.8 million yuan, accounting for 28% of the registered capital. Liao Chuqiao, the daughter of Liao Xiaofei, the shareholder, director, and vice president of the company who holds more than 5% of the company's shares, actually controlled 44% of Zhongke Xinghai's voting rights through the transfer of the investment share, which constituted a related transaction. The transaction does not need to be submitted to the board of directors or shareholders' meetings for consideration, and does not constitute a major asset restructuring.

Siquan New Materials announced that the company and Zhongke Xingtu, Huanju Tuoyu, and Xingxin Juxin jointly invested to establish Zhongke Xinghai. The company invested 2.8 million yuan, accounting for 28% of the registered capital. Liao Chuqiao, the daughter of Liao Xiaofei, the shareholder, director, and vice president of the company who holds more than 5% of the company's shares, actually controlled 44% of Zhongke Xinghai's voting rights through the transfer of the investment share, which constituted a related transaction. The transaction does not need to be submitted to the board of directors or shareholders' meetings for consideration, and does not constitute a major asset restructuring.