Stock code: 688196 Stock abbreviation: Excellent New Energy Announcement No.: 2024-038

Longyan Excellence New Energy Co., Ltd

Special report on the use of the funds raised in the previous round

The Board of Directors and all directors of the Company guarantee that the content of this announcement does not contain any false records or misleading

statements or material omissions, and bear legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law

Allow.

In accordance with the provisions of the Guidelines for the Application of Regulatory Rules - Issuance No. 7 issued by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), Longyan Excellence New Energy Co., Ltd. (hereinafter referred to as the "Company")

or the "Company") has prepared a statement on the use of the proceeds for the previous round as of October 31, 2024

Special reports.

1. The previous fund-raising

(1) The amount of funds raised in the previous round and the time when the funds were in place

With the approval of the China Securities Regulatory Commission [2019] No. 1921, the company was allowed to publicly issue 30,000,000 RMB ordinary shares (A shares) to the public at an issue price of RMB 42.93 per share, raising a total of RMB 1,287,900,000.00, deducting underwriting and sponsorship fees, lawyer fees, audit and capital verification fees, information disclosure fees for this offering, issuance and listing fees and other fees (excluding VAT)87. After 003,779.25 yuan, the company's net amount of funds raised this time was 1,200,896,220.75 yuan. Grant Thornton Certified Public Accountants (Special General Partnership) has verified the above-mentioned raised funds in place, and in:

On November 15, 2019, the "Capital Verification Report" was issued (Grant Thornton Xianzi (2019) No. 350ZA0044).

(2) The deposit of the funds raised in the previous round

In accordance with the relevant laws and regulations and the provisions of regulatory authorities, and following the principles of standardization, safety, efficiency and transparency, the company has formulated the "Measures for the Management of Raised Funds", which has made clear provisions on the storage, approval, use, management and supervision of raised funds, so as to ensure the standardized use of raised funds in the system.

On November 19, 2019, the Company and Agricultural Bank of China Co., Ltd. Longyan Longjin Branch (to

Hereinafter referred to as "Agricultural Bank of China Longjin Branch"), Industrial Bank Co., Ltd. Longyan Silla Sub-branch (hereinafter referred to as "Industrial Silla Branch") and Yingda Securities Co., Ltd. (hereinafter referred to as "Yingda Securities") signed the Tripartite Supervision Agreement on Raising Funds to open a special account for raising funds in Agricultural Bank of China Longjin Sub-branch (account number:

13700101046666664. 13700101048888886) and open a special account for raising funds (account number: 171010100160188888) in the Silla branch of IB. There are no material differences between the tripartite regulatory agreement and the model tripartite regulatory agreement of the stock exchange, and there is no problem in the performance of the tripartite regulatory agreement.

As of October 31, 2024, the company's previous raised funds were deposited (unit: RMB)

As follows:

Bank Name Bank Account Number Initial Deposit Amount Balance on Cut-off Date

Agricultural Bank of China Co., Ltd. Long 13700101046666664 561,000,000.00 16,942,092.93

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 50,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 50,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 50,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 30,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long 13700101048888886 175,000,000.00 51,990.12

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long 13700101048686868 - 289,404.22

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 30,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 20,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 30,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 20,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 30,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 30,000,000.00

Yanlongjin Branch

Agricultural Bank of China Co., Ltd. Long Large Certificate of Deposit - 10,000,000.00

Yanlongjin Branch

Industrial Bank Co., Ltd. Longyan Xin 171010100160188888 478,528,301.89 33,523,590.50

Luo Branch

Industrial Bank Co., Ltd. Longyan New Large Certificate of Deposit - 20,000,000.00

Luo Branch

Industrial Bank Co., Ltd. Longyan New Large Certificate of Deposit - 11,000,000.00

Luo Branch

Industrial Bank Co., Ltd. Longyan New Large Certificate of Deposit - 11,000,000.00

Luo Branch

Total - 1,214,528,301.89 442,807,077.77

2. Description of the actual use of the funds raised in the previous round

(1) Comparison table of the use of funds raised in the previous round

The company's commitment to invest in projects includes: an annual output of 100,000 tons of biodiesel (non-grain) and an annual output of 50,000 tons per day

However, the fatty alcohol project, the technology research and development center construction project, the replenishment of working capital, and the projects invested in the over-raised funds include: repayment of bank loans, new projects with an annual output of 100,000 tons of biodiesel, and an annual output of 100,000 tons of hydrocarbon-based biodiesel

production line, as of October 31, 2024, the company has raised funds to invest in the project has used the raised funds cumulatively

868,632,200 yuan (including the part invested in advance in the early stage of replacement), the actual use of which is detailed in Annex 1 "Comparison Table of the Use of the Previous Raised Funds".

(2) A description of the changes in the actual investment projects of the previous raised funds

As of October 31, 2024, the company has not made any changes to the actual investment projects of the previous raised funds

Circumstance.

(3) The content and reasons for the difference between the actual total investment and the commitment of the previous fund-raising project

There is a difference between the actual total investment of the R&D center construction project and the over-raised-new biodiesel project with an annual output of 100,000 tons and the commitment, mainly due to the interest income and savings generated by capital savings in the construction process, and the difference in other investment projects is due to the fact that they are still under construction.

(4) A description of the external transfer or replacement of the investment project of the previous raised funds

1. The external transfer of the investment project of the previous raised funds

As of October 31, 2024, the Company has not transferred the actual investment projects of the previous raised funds

Let's be in the situation.

2. Replacement of the previous raised funds

On December 9, 2019, the company held the 12th meeting of the third board of directors and the third board of supervisors

At the 11th meeting, the "Proposal on Using Raised Funds to Replace the Self-Raised Funds Invested in the Raised Projects in Advance" was deliberated and approved, and it was agreed that the company would use the raised funds to replace the self-raised funds that had been invested in the fund-raising projects in advance of 40,846,714.85 yuan, and use the raised funds to replace the self-raised funds that had paid the issuance costs of 6,155,792.43 yuan, and use the raised funds of 47,002,507.28 yuan to replace the self-raised funds invested in advance. This matter has been verified by Rongcheng Certified Public Accountants (Special General Partnership), and an assurance report on the investment project and payment of issuance costs with self-raised funds in advance was issued [2019] No. 8307.

(5) A description of the idle funds raised

The company held the 12th meeting of the third board of directors and the third board of supervisors on December 9, 2019

At the 11th meeting, the "Proposal on the Use of Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and passed, and it was agreed to be used under the condition of ensuring that the implementation of the investment project of the raised funds and the safety of the raised funds were not affected

Use part of the temporarily idle raised funds with a limit of no more than RMB980 million for cash management, which will be used to purchase investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits, time deposits, large-value certificates of deposit, etc.). Funds within the above amount can be used on a rolling basis for a period of 12 months from the date of approval by the Board of Directors of the Company. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

The company held the first meeting of the fourth board of directors and the fourth board of supervisors on November 29, 2020

At the first meeting, the "Proposal on the Use of Part of the Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that under the condition of ensuring that the implementation of the investment projects of the raised funds and the safety of the raised funds were not affected, part of the idle raised funds with a quota of no more than RMB 950 million were used for cash management for the purchase of investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits, time deposits, large-amount certificates of deposit, etc.). Funds within the above amount can be used on a rolling basis for a period of 12 months from the date of approval by the Board of Directors of the Company. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

The company held the sixth meeting of the fourth board of directors and the fourth board of supervisors on October 26, 2021

At the sixth meeting, the "Proposal on Using Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that under the condition of ensuring that the implementation of the investment projects of the raised funds and the safety of the raised funds were not affected, part of the temporarily idle raised funds with a quota of no more than RMB 750 million were used for cash management for the purchase of investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits, fixed deposits, large-amount certificates of deposit, etc.). Funds within the above amount can be used on a rolling basis for a period of 12 months from the date of approval by the Board of Directors of the Company. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

The company held the 13th meeting of the 4th session of the board of directors and the 4th session of the board of supervisors on October 21, 2022

At the 11th meeting, the "Proposal on the Use of Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that under the condition of ensuring that the implementation of the investment projects of the raised funds and the safety of the raised funds are not affected, part of the temporarily idle raised funds with a limit of no more than RMB 650 million will be used for cash management for the purchase of investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits, time deposits, large-amount certificates of deposit, etc.). Funds within the above amount can be used on a rolling basis for a period of 12 months from the date of approval by the Board of Directors of the Company. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

The company held the 19th meeting of the 4th board of directors and the 4th board of supervisors on October 27, 2023

At the 15th meeting, the "Proposal on the Use of Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that under the condition of ensuring that the implementation of the investment projects of the raised funds and the safety of the raised funds were not affected, part of the temporarily idle raised funds with a limit of no more than RMB 55,000.00 was used for cash management for the purchase of investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits,

Fixed deposits, certificates of deposit, etc.). Within 12 months from November 30, 2023, within the above limit

Funds can be used on a rolling basis. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

The Company held the sixth meeting of the fifth session of the board of directors and the fifth session of the board of supervisors on October 28, 2024

At the fourth meeting, the "Proposal on Using Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that under the condition of ensuring that the implementation of the investment project of the raised funds and the safety of the raised funds are not affected, part of the temporarily idle raised funds with a quota of no more than RMB 45,000.00 will be used for cash management for the purchase of investment products with high security, good liquidity and guaranteed principal (including but not limited to structured deposits and fixed deposits).

deposits, certificates of deposit, etc.). The cash management resolution is effective from November 30, 202411111

Valid for one month. Within the above quota and period, the funds can be used on a rolling basis. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

On April 18, 2024, the company held the second meeting of the fifth board of directors and the fifth session of the board of supervisors

At the second meeting, the "Proposal on the Completion of Part of the Raised Funds Investment Project and the Permanent Replenishment of Liquidity with the Surplus Raised Funds" was deliberated and approved, and it was agreed that the two projects of "Technology R&D Center Construction Project" and "New Biodiesel Production Line Project with an Annual Output of 100,000 Tons" were closed, and the surplus raised funds were used to permanently supplement the working capital, and the above two projects are expected to raise 13.282 million yuan (excluding interest income and net financial income of 3.6 million), accounting for the proportion of the total amount of funds raised in the previous meeting 1.11%。 The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent.

As of October 31, 2024, the company's use of idle raised funds for cash management has not been recovered

The amount is 39,200.00 yuan, and the details are as follows:

Product Name Product Amount (10,000 Expected annualized.)

Contracted bank called type yuan) value date, maturity date, yield

(%)

Industrial Bank Co., Ltd. Large deposit fixed 2,000.00 2022/4/20 2025/1/14 3.55

Silongam Silla Sub-branch Single Interest Rate

Industrial Bank Co., Ltd. Large deposit fixed 1,100.00 2022/12/23 2025/6/22 3.45

Silongam Silla Sub-branch Single Interest Rate

Industrial Bank Co., Ltd. Large deposit fixed 1,100.00 2022/12/23 2025/6/22 3.45

Silongam Silla Sub-branch Single Interest Rate

Agricultural Bank of China shares have large deposits fixed 1,000.00 2023/1/10 2026/1/10 3.10

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have large deposits fixed 3,000.00 2023/10/24 2026/10/24 2.65

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have large deposits fixed 2,000.00 2023/11/6 2026/1/16 3.10

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have large deposits fixed 3,000.00 2023/11/6 2026/1/30 3.10

Limited to the company's Longyan Longjin sub-branch single interest rate

Product Name Product Amount (10,000 Expected annualized.)

Contracted bank called type yuan) value date, maturity date, yield

(%)

Agricultural Bank of China shares have large deposits fixed 2,000.00 2023/11/6 2025/3/29 3.35

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have large deposits fixed 3,000.00 2023/11/6 2025/3/29 3.35

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have large deposits fixed 3,000.00 2023/12/5 2025/3/23 3.35

Limited to the company's Longyan Longjin sub-branch single interest rate

Agricultural Bank of China shares have a three-year fixed

Limited to Longyan Longjin Sub-branch Large deposit interest rate 5,000.00 2023/12/8 2026/12/8 2.65

single

Agricultural Bank of China shares have a three-year fixed

Limited to Longyan Longjin Sub-branch Large deposit interest rate 5,000.00 2023/12/8 2026/12/8 2.65

single

Agricultural Bank of China shares have a three-year fixed

Limited to Longyan Longjin Sub-branch Large deposit Interest rate 5,000.00 2023/12/8 2026/2/3 3.10

single

Agricultural Bank of China shares have a three-year fixed

Limited to Longyan Longjin Sub-branch Large deposit interest rate 3,000.00 2023/12/18 2026/2/3 3.10

single

Total – 39,200.00 – –

3. Explanation of the benefits realized by the investment project of the previous raised funds

(1) Comparison table of the benefits realized by the investment projects of the previous raised funds

Please refer to Annex 2 of this report for a comparison table of the benefits realized by the investment projects of the previous raised funds. The calculation caliber and calculation method of the realized benefits in the comparison table are consistent with the calculation caliber and calculation method of the promised benefits.

(2) A statement of the fact that the benefits of the previous fund-raising investment project cannot be separately calculated

(1) The "Technology R&D Center Construction Project" is mainly to further enhance and optimize the biodiesel and biodiesel deep processing technology, further research and development of high value-added bio-based green chemical products with biodiesel as raw materials, increase the company's market competitiveness and development stamina, and provide technical support and power for the company's sustainable and healthy development.

(2) The "Supplementary Liquidity Project" is mainly to meet the demand for working capital for business development and improve profitability, and the benefits of this project are reflected in the overall economic benefits of the Company, and the benefits cannot be accounted for separately.

(3) The "repayment of bank loans" is mainly used to repay bank loans, and the benefits cannot be calculated separately.

(3) A description of the cumulative realized income of the raised funds investment project is lower than the promised cumulative return

The comparison table between the realized benefits and the promised returns of the previous raised funds investment projects is detailed in Annex 2 of this report.

4. Explanation of the operation of assets in the previous issuance involving the subscription of shares with assets

The company's previous fundraising did not involve the subscription of shares with assets.

5. Explanation of the comparison between the actual use of the funds raised in the previous round and the publicly disclosed information

The actual use of the funds raised in the previous round is consistent with the relevant content disclosed in the company's periodic reports and other information disclosure documents.

Annex:

1. Comparison table of the use of funds raised in the previous round

2. Comparison table of the benefits realized by the investment projects of the previous raised funds

Board of Directors of Longyan Excellence New Energy Co., Ltd

December 6, 2024

Annex 1:

Comparison table of the use of funds raised in the previous round

As of October 31, 2024

Preparation unit: Longyan Excellence New Energy Co., Ltd. Unit: RMB 10,000 yuan

Total funds raised: 120,089.62 Total funds raised have been used: 86,863.22

Total proceeds repurposed: N/A Total proceeds used in each year: 86,863.22

Ratio of total proceeds repurposed N/A 2019: 18,499.01 2022: 17,600.76

Example: 2020: 2023:

13,491.97 7,164.59

2021: 16,235.00 2024 1-10 13,871.89

Month:

Investment Projects Total Investment of Raised Funds Cumulative Investment of Raised Funds as of the Deadline

The actual investment fund project has reached the pre-date

Preface Pre-fundraising commitment Post-fundraising commitment Actual investment Pre-fundraising commitment Post-fundraising commitment The actual investment amount can be used after fundraising

No. Committed Investment Project Actual Investment Project Commitment Investment Amount Amount Amount Amount Amount Commitment Investment Status Date

Amount The difference in amount

100,000 tonnes of biodiesel per year (non-100,000 tonnes per year of biodiesel June 2025

1 grain) and 50,000 tons of natural fat (non-grain) and 50,000 tons of natural fat (non-grain) 56,100.00 56,100.00 43,861.41 56,100.00 56,100.00 43,861.41 -12,238.59 (Note 4)

Fatty Alcohol Project Natural Fatty Alcohol Project

2 Technology R&D Center Construction Project Technology R&D Center Construction Project 7,500.00 7,500.00 6,683.80 7,500.00 7,500.00 6,683.80 -816.20 December 2022

3 Replenishment of Liquidity Replenishment of Liquidity 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 - N/A

4 Over-Offering - Repayment of Bank Loan (Description Over-Offering - Repayment of Bank Loan N/A 3,500.00 3,500.00 N/A 3,500.00 3,500.00 - N/A

1）

5 Over-raising - new annual output of 100,000 tons Over-raising - new annual output of 100,000 tons N/A 10,000.00 9,545.09 N/A 10,000.00 9,545.09 -454.91 December 2022

Biodiesel Project (Note 2) Biodiesel Project

6 Over-raising - annual output of 100,000 tons of hydrocarbon base generation Over-raising - annual output of 100,000 tons of hydrocarbon base N/A 34,918.73 13,272.92 N/A 34,918.73 13,272.92 -21,645.81 June 2025

Biodiesel Production Line (Note 3) Biodiesel Production Line (Note 4)

Total 73,600.00 122,018.73 86,863.22 73,600.00 122,018.73 86,863.22 -35,155.51

On December 9, 2019, the company held the 12th meeting of the 3rd board of directors and the 11th meeting of the 3rd board of supervisors, and deliberated and passed the "Proposal on Using Part of the Over-raised Funds to Repay Bank Loans".

Note 1: The Company used part of the over-raised funds of $35 million to repay the bank loan. The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent. This matter has been the second extraordinary general meeting of shareholders of the company in 2019

It will be deliberated and adopted.

On March 29, 2021, the company held the second meeting of the fourth board of directors and the second meeting of the fourth board of supervisors, and deliberated and passed the "Proposal on Using Part of the Over-raised Funds to Make Additional Investment in Raised Projects", which was approved

Note 2: On the basis of the land and supporting facilities of the existing fund-raising project with an annual output of 100,000 tons of biodiesel, an additional investment of 100 million yuan of over-raised funds will be used for the new biodiesel production line project with an annual output of 100,000 tons.

The company's independent directors, board of supervisors, and sponsor institutions have respectively expressed their consent. This matter has been deliberated and approved by the Company's 2020 Annual General Meeting of Shareholders.

On July 9, 2021, the company held the fourth meeting of the fourth board of directors and the fourth meeting of the fourth board of supervisors, and deliberated and approved the "Proposal on Using Over-raised Funds for the Project of Hydrocarbon-based Biodiesel Production Line".

Note 3: It was agreed that the company would use the remaining over-raised funds of 349.1873 million yuan to invest in the construction of a "hydrocarbon-based biodiesel production line with an annual output of 100,000 tons", and the shortfall would be solved by self-raising or its own funds. Independent directors, board of supervisors, and insurance of the company

The recommending institutions have issued their respective concurring opinions. This matter has been deliberated and approved by the company's first extraordinary general meeting of shareholders in 2021.

The 100,000-ton-per-year biodiesel (non-grain) production line and the 50,000-ton-per-year natural fatty alcohol project in the "100,000 tons of biodiesel (non-grain) and 50,000 tons of natural fatty alcohols per year project are independently constructed and operated

Two production lines, of which the 100,000-tonne-per-year biodiesel (non-grain) production line was fully operational in June 2021. The company held the 17th meeting of the fourth board of directors and the fourth session of supervisors on April 24, 2023

Note 4: At the thirteenth meeting, the "Proposal on the Extension of Part of the Raised Funds Investment Project" was deliberated and approved, and it was agreed that the company would be included in the "annual output of 100,000 tons of biodiesel (non-grain) and annual output of 50,000 tons of natural fatty alcohols".

The "50,000 tons per year natural fatty alcohol project" and the "over-raised - 100,000 tons per year hydrocarbon-based biodiesel production line" have been extended to June 2025. Independent director, board of supervisors, sponsor of the company

The agencies have issued their respective concurring opinions.

Annex 2:

Comparison table of the benefits realized by the investment projects of the previous raised funds

As of October 31, 2024

Preparation unit: Longyan Excellence New Energy Co., Ltd. Amount unit: RMB 10,000 yuan

Actual Investment Projects Cut-off Date Actual Benefits in the Last Three Years and the First Period Accumulated as of the Cut-off Date

Cumulative commitment benefits (Note 2) Realized benefits Whether the expected benefits have been achieved

Serial No. Project Name Calculated Profit 2021 2022 2023 2024 Profit Benefit

Usage rate 1-10 months

The annual output of 100,000 tons of biodiesel (non-grain) is expected to achieve annual new sales after reaching production Not applicable (said

1 and annual output of 50,000 tons of natural fatty alcohols project Description 1 Sales revenue of 70,483,000 yuan, annual 6,267.71 9,850.69 3,146.28 2,107.42 21,372.10 Ming 3)

The new net profit was 123.425 million yuan

2 Technology R&D Center Construction Project N/A N/A N/A N/A N/A

3 Replenishment of Liquidity N/A N/A N/A N/A N/A

4 Over-Offering - Repayment of Bank Loan N/A N/A N/A N/A N/A

Over-raising - the new annual output of 100,000 tons of bio-firewood is expected to achieve annual new sales after production Not applicable (not yet completed construction (note

5 Oil items 40.19% Sales revenue 620.6897 million yuan, annual maturity) 197.81 1,827.68 2,025.49 4)

The new net profit was 64.8382 million yuan

Over-raised-annual output of 100,000 tons of hydrocarbon-based biodiesel Not applicable It is expected to achieve annual new sales after reaching production Not applicable Not applicable (yet.)

6 Oil production line (not yet built Sales revenue of 963.92 million yuan, year not applicable (not yet completed construction) (not yet built and not completed.)

Completed) New net profit of 56.53 million yuan Completed)

The annual output of 100,000 tons of biodiesel (non-grain) and the annual output of 50,000 tons of natural fatty alcohols project in the "annual output of 100,000 tons of biodiesel (non-grain) and annual output of 50,000 tons of natural fatty alcohols project are independently constructed

Note 1: The two production lines operated by He, of which the production line with an annual output of 100,000 tons of biodiesel (non-grain) has reached full production in June 2021, and the cumulative capacity utilization rate of the investment project is 100.00% as of the deadline; An annual output

The 50,000-ton natural fatty alcohol project has not yet been completed.

Note 2: The company has not made any commitment to the use of the raised funds, and the promised benefits of the above investment projects are feasibility study and measurement benefits.

Note 3: The actual benefits of the project with an annual output of 100,000 tons of biodiesel (non-grain) and an annual output of 50,000 tons of natural fatty alcohols have not reached the promised benefits, including: 1. The construction of the natural fatty alcohol project has not yet been completed; 2、2023

Since then, the EU has carried out anti-circumvention and anti-infringement investigations on biodiesel originating in China, resulting in low market prices and adverse effects on the realization of benefits of biodiesel projects.

Note 4: The over-raised - new biodiesel project with an annual output of 100,000 tons was put into operation in December 2022, and is in the production capacity ramp-up stage in 2023, and the project benefits from January to October 2024 did not meet expectations for the same reasons as Note 3-2

State.