On the evening of July 24, *ST Yabo issued an announcement stating that Zhang Zonghui, the chairman of the company, had recently submitted a written resignation report and resigned as chairman and director of the 7th board of directors due to reaching the legal retirement age. His original term of office was until the end of the 7th board of directors. According to public information, Zhang Zonghui was born in 1966 and was a member of the Standing Committee of the Shizhong District Committee of Zaozhuang City; he has been the party committee secretary and chairman of Shandong Quanxing Energy Group Co., Ltd. since May 2019; and the chairman of Shandong Yabo Technology Co., Ltd. since March 2022. On the same day, *ST Yabo held the 6th meeting of the 7th board of directors to review and pass the “Proposal on Election of the Chairman” and elected Yang Jiandong as the new chairman of the company. The term of office begins on the date of review and approval by the board of directors and ends on the date the term of the 7th board of directors of the company expires. According to his resume, Yang Jiandong was born in 1968 and has served as the general manager and deputy secretary of the Party Committee of Zaozhuang Finance Holding Group Co., Ltd.; from March 2021 to March 2021, he has also been the chairman and party committee secretary of Zaozhuang Finance Holding Group Co., Ltd.; from May 2026 to July 2026, he is also the vice chairman of Shandong Yabo Technology Co., Ltd. On July 22, Interface News published “*ST Yabo's “Case Closed” Countdown: On the eve of the 300 million revenue red line, who accurately delivered the two big orders?” *ST Yabo completed the change of controlling shareholder on July 16. Zaozhuang Finance Group replaced the original controlling shareholder Shandong Quanxing Technology Co., Ltd. with a shareholding ratio of 17.1145% as the new controlling shareholder. The actual controller of the company was changed from the Zaozhuang Municipal State-owned Assets Administration Commission to the Zaozhuang Finance Bureau. This change of ownership is not a “bottom cut” of external capital, but rather a deep adjustment within the Zaozhuang state-owned assets system. *The relevant person in charge of ST Yabo Securities told Interface News that the old and new controlling shareholders have different subsidiary systems. Quanxing Technology itself is an entity, while Zaozhuang Finance Group is an investment platform under the Finance Bureau, and its financial support will be relatively stronger and more flexible. It is worth mentioning that in just two months after the “relay” was announced by state-owned assets, *ST Yabo, which was on the verge of delisting, won “life-saving” orders one after another. The total amount of the two winning projects was about 294 million yuan, which just helped the company cross the “red line of containment” of 300 million yuan in revenue.

On the evening of July 24, *ST Yabo issued an announcement stating that Zhang Zonghui, the chairman of the company, had recently submitted a written resignation report and resigned as chairman and director of the 7th board of directors due to reaching the legal retirement age. His original term of office was until the end of the 7th board of directors. According to public information, Zhang Zonghui was born in 1966 and was a member of the Standing Committee of the Shizhong District Committee of Zaozhuang City; he has been the party committee secretary and chairman of Shandong Quanxing Energy Group Co., Ltd. since May 2019; and the chairman of Shandong Yabo Technology Co., Ltd. since March 2022. On the same day, *ST Yabo held the 6th meeting of the 7th board of directors to review and pass the “Proposal on Election of the Chairman” and elected Yang Jiandong as the new chairman of the company. The term of office begins on the date of review and approval by the board of directors and ends on the date the term of the 7th board of directors of the company expires. According to his resume, Yang Jiandong was born in 1968 and has served as the general manager and deputy secretary of the Party Committee of Zaozhuang Finance Holding Group Co., Ltd.; from March 2021 to March 2021, he has also been the chairman and party committee secretary of Zaozhuang Finance Holding Group Co., Ltd.; from May 2026 to July 2026, he is also the vice chairman of Shandong Yabo Technology Co., Ltd. On July 22, Interface News published “*ST Yabo's “Case Closed” Countdown: On the eve of the 300 million revenue red line, who accurately delivered the two big orders?” *ST Yabo completed the change of controlling shareholder on July 16. Zaozhuang Finance Group replaced the original controlling shareholder Shandong Quanxing Technology Co., Ltd. with a shareholding ratio of 17.1145% as the new controlling shareholder. The actual controller of the company was changed from the Zaozhuang Municipal State-owned Assets Administration Commission to the Zaozhuang Finance Bureau. This change of ownership is not a “bottom cut” of external capital, but rather a deep adjustment within the Zaozhuang state-owned assets system. *The relevant person in charge of ST Yabo Securities told Interface News that the old and new controlling shareholders have different subsidiary systems. Quanxing Technology itself is an entity, while Zaozhuang Finance Group is an investment platform under the Finance Bureau, and its financial support will be relatively stronger and more flexible. It is worth mentioning that in just two months after the “relay” was announced by state-owned assets, *ST Yabo, which was on the verge of delisting, won “life-saving” orders one after another. The total amount of the two winning projects was about 294 million yuan, which just helped the company cross the “red line of containment” of 300 million yuan in revenue.