Dadongnan: Responds to questions about major shareholder exit approval, development strategy, and lithium battery project.

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Investor question:

Why aren’t my questions being answered? The controlling shareholder has completed the restructuring task, and has requested to withdraw; however, the approval has not been granted for nearly 2 years. The listed company has repeatedly fended off retail investors with “as announced.” Why can’t it state the facts and explain the reasons it has not obtained approval over the past 2 years and the work the company has completed in cooperation? For a controlling shareholder that has already completed its task and plans to withdraw, will it truly wholeheartedly lead the development strategy of the previous company? Based on the company’s development since the restructuring, it has basically focused on improving and upgrading functions on top of the existing industrial base, and we can’t see any development strategy plan. Moreover, the lithium battery project has been left idle for a long time, causing waste of state-owned assets. I hope the company can respond seriously.

Reply from the Secretary to the Board of Directors (Datongnan SZ002263):

Hello. We fully understand your concern and anxious feelings about the company’s development and the progress of relevant matters. Regarding the approval outcome for the controlling shareholder’s withdrawal, it is not something the company can decide on its own. The company can only promptly fulfill its information disclosure obligations after receiving a notice from the controlling shareholder. This is exactly the reason for “as announced,” and it is absolutely not an attempt to brush you off. The company’s development strategy is formulated based on its actual circumstances and industry development trends. In recent years, based on the foundation of existing businesses, the company has been strengthening, improving, and upgrading—this is precisely to consolidate the development base and enhance core competitiveness. At the same time, the company is also actively exploring new business growth opportunities, and the related work is being advanced in a steady manner. As for the lithium battery project, the company will carefully evaluate its subsequent development plans, make efforts to achieve effective utilization of assets, and avoid wasting resources. We understand deeply that shareholders’ trust and support are an important driving force for the company’s development. The company will continue to uphold the principles of integrity and transparency, promptly fulfill information disclosure obligations, and maintain good communication with the broad group of shareholders. Thank you for your attention to and supervision of the company.

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Disclaimer: This information was extracted by Sina Finance from publicly available information, and does not constitute any investment advice; Sina Finance does not guarantee the accuracy of the data, and the content is for reference only.

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