Baoguang Co., Ltd.: The company's main business is vacuum arc extinguishers, which has not changed.

Baoguang Co., Ltd. released an announcement regarding abnormal movements in its share price. On April 30, 2026, the company’s share price continued to hit the daily limit. In the short term, the increase in the share price was noticeably higher than that of the industry and the Shanghai Composite Index over the same period. The company’s principal business has not undergone any major changes.

The company has noted that investors have recently shown considerable attention to the helium gas business operated by its controlling subsidiary, Shaanxi Baoguang Lianyue Hydrogen Energy Development Co., Ltd. (hereinafter referred to as “Baoguang Lianyue”). According to the company’s self-inspection, Baoguang Lianyue’s core principal business is hydrogen. It focuses on the production, storage, transportation, and sales of hydrogen, while also taking into account the sales of electronic specialty gases such as high-purity nitrogen, sulfur hexafluoride, C4 gases, oxygen, helium, and others.

In 2025, the company’s audited consolidated operating revenue was 1.261 billion yuan, and Baoguang Lianyue’s operating revenue was 44.0445 million yuan, accounting for 3.49% of the company’s audited consolidated operating revenue. In 2025, Baoguang Lianyue’s net profit was 3.0877 million yuan, accounting for 6.23% of the company’s audited consolidated net profit. In 2025, Baoguang Lianyue’s helium gas business operating revenue was 0.9180 million yuan, accounting for 0.07% of the company’s audited consolidated operating revenue for 2025. Helium is a supporting gas business, and its share is very small.

As of now, the company’s principal business is vacuum arc extinguishing chambers, and it has not changed.