According to the Qingdao Port announcement, the company originally planned to acquire 100% of the oil company's shares and 50% of Rizhao Shihua's shares in cash, and signed the relevant agreement in February 2025, which was reviewed and approved by the March shareholders' meeting. Since Rizhao Shihua was included in the US list of specially designated citizens, it may affect the business of the target company. In order to protect the interests of the company and shareholders, the company signed a termination agreement with the Rizhao Port Group on December 12. Termination of the transaction does not result in liability for breach of contract, does not harm the interests of the company and shareholders, and does not affect the company's production, operation and financial situation.

According to the Qingdao Port announcement, the company originally planned to acquire 100% of the oil company's shares and 50% of Rizhao Shihua's shares in cash, and signed the relevant agreement in February 2025, which was reviewed and approved by the March shareholders' meeting. Since Rizhao Shihua was included in the US list of specially designated citizens, it may affect the business of the target company. In order to protect the interests of the company and shareholders, the company signed a termination agreement with the Rizhao Port Group on December 12. Termination of the transaction does not result in liability for breach of contract, does not harm the interests of the company and shareholders, and does not affect the company's production, operation and financial situation.