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Progress Of Three Gorges Water Conservancy’s 2025 Annual Guarantee Plan: No New Guarantees In January 2026

Stock code: 600116 Stock abbreviation: Three Gorges Water Conservancy Number: Lin 2026-005

Chongqing Three Gorges Water Conservancy and Electric Power (Group) Co., Ltd.

Announcement on the progress of the 2025 guarantee plan

The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.

Important content reminder:

Within the 2025 annual guarantee plan of Chongqing Three Gorges Water Conservancy and Electric Power (Group) Co., Ltd. (hereinafter referred to as the "Company"), there will be no new guarantees in January 2026.

As of January 31, 2026, the cumulative guarantee balance of the company and its subsidiaries was RMB 1,157,847,400, and the total guarantees of the company and its subsidiaries were RMB 3,120,069,400 [including the unused quota of RMB 1,950 million in the 2025 guarantee plan and the company's Its wholly-owned subsidiary Chongqing Fuling Julong Electric Power Co., Ltd. (hereinafter referred to as "Julong Electric Power") has an unused amount of 1,222.20 out of the total guarantee provided by its joint-stock company Chongqing Kolkeke New Materials Co., Ltd. (hereinafter referred to as "Kolkeke Company") with a 31.5% stake. million], accounting for 28.29% of the company’s audited net assets attributable to shareholders of listed companies in 2024. As of the disclosure date of this announcement, the company has no overdue guarantees.

Other explanations: The guarantee balance, amount incurred, total amount and repayment amount in this announcement are

Inconsistencies in the mantissas of the items are due to rounding.

1. Overview of Guarantee

(1) Overview of the 2025 Guarantee Plan

The company held the 29th meeting of the 10th board of directors and the 2024 annual shareholders' meeting on April 23 and June 27, 2025, respectively, and reviewed and approved the "Proposal on the Company's 2025 Guarantee Plan". The meeting agreed that the company's total new guarantees for the 2025 guarantee plan would not exceed 1.95 billion yuan, and agreed to authorize the general manager's office meeting to be specifically responsible for handling the above guarantee matters. The applicable period is from the date of approval by the shareholders' meeting to the re-evaluation of the guarantee limit at the next shareholders' meeting. The guaranteed parties in the company's 2025 annual guarantee plan are the company's wholly-owned subsidiaries and holding subsidiaries, including 5 wholly-owned subsidiaries, with a guarantee amount of 750 million yuan; and 1 holding subsidiary, with a guarantee amount of 200 million yuan; when conducting bill pool business, the cumulative amount of mutual guarantees between the company and its subsidiaries and subsidiaries does not exceed 1 billion yuan. For details of the above, please refer to the "Announcement on the Resolution of the Twenty-ninth Meeting of the Tenth Board of Directors" (Lin No. 2025-014), the "Announcement on the Guarantee Plan for 2025" (Lin No. 2025-018), and the "Announcement on the Resolution of the 2024 Annual General Meeting of Shareholders" (Lin No. 2025-027) disclosed by the company on the Shanghai Stock Exchange website on April 25 and June 28, 2025 respectively.

(2) Progress of the guarantee plan

Within the 2025 annual guarantee plan, the company and its subsidiaries did not add or release guarantees in January 2026.

In addition to the above-mentioned annual guarantee plan, in the same month, the company's wholly-owned subsidiary Julong Electric Power Co., Ltd.'s joint-stock company Kolcok Company repaid a loan of 13.81 million yuan to Shanghai Pudong Development Bank Chongqing Branch, thereby releasing Julong Power's guarantee liability of 4.3502 million yuan based on the shareholding ratio.

2. Necessity and Reasonability of Guarantee

The company's 2025 annual guarantee plan is a reasonable estimate based on actual operating needs and funding arrangements to meet the funding needs of some of its affiliated companies. All guaranteed entities are wholly-owned and controlled subsidiaries of the company. The company has sufficient control and can effectively monitor and manage its production and operations. The overall guarantee risk is controllable and will not have an adverse impact on the company's normal operations, financial status and operating results.

3. Opinions of the Board of Directors

The 29th meeting of the company's 10th board of directors reviewed and approved the "Proposal on the Company's 2025 Guarantee Plan". The board of directors believes that all guaranteed entities in the 2025 guarantee plan are wholly-owned and controlled subsidiaries of the company, their operating conditions are stable, and they have the ability to perform guarantees. The company has sufficient control over its wholly-owned and controlled subsidiaries and can effectively monitor and manage its production and operations. The overall guarantee risk is controllable and will not have an adverse impact on the company's normal operations, financial status and operating results. In order to meet the capital needs for the development of some of the company's subsidiaries and enable them to develop healthily and sustainably, based on the actual operating needs and capital arrangements of the company and its subsidiaries, the meeting agreed on the company's 2025 annual guarantee plan, with an additional guarantee limit of 1.95 billion yuan, and agreed to request the general meeting of shareholders to authorize the General Manager's Office to be specifically responsible for handling the above guarantee matters. The applicable period is from the date of approval by the 2024 annual shareholders' meeting to the re-evaluation of the guarantee limit at the next shareholders' meeting.

4. Cumulative number of guarantees and number of overdue guarantees

As of January 31, 2026, the total guarantee amount of the company and its subsidiaries was 3.1200694 million yuan (including the unused quota of 1.95 billion yuan in the 2025 guarantee plan and the company's wholly-owned subsidiary Julong Electric Among the total guarantees provided by Colcock Company, which holds 31.5% of its shares, the unused amount is 12.222 million yuan), accounting for 28.29% of the company's audited net assets attributable to shareholders of listed companies in 2024. The company's current guarantees are all guarantees for wholly-owned subsidiaries, joint ventures and subsidiaries. There are no guarantees for controlling shareholders, actual controllers and their related parties. There are guarantees for other external units. The company and its subsidiaries have no overdue external guarantees.

Announcement is hereby made.

Chongqing Three Gorges Water Conservancy and Electric Power (Group) Co., Ltd.

Board of Directors

February 13, 2026

The U.S. House Of Representatives Rarely Opposes Trump, And The Resolution To End The Tariff Increase On Canada Has Attracted Attention

Trump to increase tariffs__Trump orders extradition to Canada

According to CCTV News, on February 11, local time, the U.S. House of Representatives narrowly passed a resolution opposing U.S. President Trump’s imposition of tariffs on Canada. It was a rare public objection to a presidential policy in the Republican-majority House.

Lawmakers voted 219-211 to pass a resolution aimed at ending Trump's use of national emergencies to impose punitive trade measures on Canadian goods. The resolution has been submitted to the Senate and is expected to pass, but will most likely be vetoed by US President Trump.

With the Republican Party accounting for the majority in both houses of Congress, the "defection" of Republican members in the vote is quite symbolic. It is reported that 6 Republican congressmen "defected" and voted in favor, while 1 Democratic congressman voted against.

Trump signed an executive order on February 1 last year, declaring a national emergency on the grounds that Canada and other countries failed to effectively control the export of illegal drugs such as fentanyl, and also invoked the International Emergency Economic Powers Act to impose additional tariffs on goods from Canada.

On July 31 last year, Trump signed an executive order requiring that the tariff rate on Canadian goods exported to the United States be increased from 25% to 35% starting from August 1st. This tax rate is much higher than the 10% tax rate imposed by the United States on the United Kingdom and the 15% tax rate imposed on the European Union, Japan and South Korea.

The U.S. has repeatedly emphasized that "Canadian companies can be exempted from tariffs if they transfer production to the United States." This is essentially a tax incentive to induce the reshoring of industries, echoing Trump's campaign promise of "bringing manufacturing back to the United States." It is also in line with Trump's innermost dream of making Canada the "51st state" of the United States.

When Canadian Prime Minister Carney delivered a speech at the World Economic Forum in Davos, Switzerland, although he did not directly name Trump, he used the term "big power" to refer to the United States, saying that it was using economic integration as a "weapon." Since then, Carney has had many confrontations with Trump and U.S. Treasury Secretary Bessant on related trade issues.

Top 20 TV Dramas Of The Day: Taiping Year Ends, Word-of-mouth Ratings Double

Top 20 TV dramas of the day

TOP20 ranking

The Tree of Life (White Chrysanthemum 39%, Dorje 27%) The Strange Case of the Tang Palace (Li Peiyi 44%, Xiao Huaijin 23%) The Year of Peace (Qian Hongchu 35%, Sun Taizhen 23%) How grown up, young and promising, the wind has passed, leaving traces, the night is thick, rural love 18, the sun is like my small town, big things, the carefree goddess is blindfolded and punished 2 Double-track drama, peeling off the cocoon of the guilty body, Jade Tea Bone Tea Bone, Chang'an's Twenty-Four Stratagems, sudden love

Today's Interpretation of Detawen

Today's market: "The Year of Peace" ended at a high level, and the competition in the top market is stalemate.

Today's episode: "The Year of Peace" comes to an end, a breakout of high-threshold serious historical dramas

The costume historical drama "The Year of Peace" ended today on multi-platform VIP. During the show's broadcast period, the peak prosperity value reached 2.234, and the average prosperity value reached 1.950. Overall, it showed a stable trend of popularity in Taiwan. With solid production and scarce themes, it achieved a double increase in reputation and ratings in the final period. It is a typical slow-burning quality drama.

As a rare drama that focuses on the history of the Five Dynasties and Ten Kingdoms, the drama shows extremely high ambition and sincerity in narrative and production. In terms of narrative arrangement, the drama adopts a parallel structure of the struggle for hegemony in the Central Plains and the governance of Wu and Yue. A large number of semi-literary and semi-white lines and elegant etiquette enhance the historical texture. The performance of the actors showed the characteristics of "bright group portraits". The performances of veteran actors Dong Yong and Hao Ping were extremely profound and became the focus of public praise. However, the play also sets up a clear threshold for watching the play: some viewers believe that Qian's perspective weakens the dramatic tension of historical heroes such as Zhao Kuangyin to a certain extent; the group portraits of troubled times result in a large number of characters appearing, which requires a high demand for the audience's attention.

But "The Year of Peace" also has a clear breakthrough. It breaks the happy drama logic of traditional historical dramas of "succeeding the king and defeating the bandits", and approaches it from the peaceful perspective of "adopting soil and returning to the Song Dynasty". Although the dramatic conflicts are not as intense as traditional Machiavellian dramas, the values ​​​​that it conveys to protect the environment and the people and national unity are of great practical significance, and provide a valuable differentiated sample for similar themes in the balance between grand narrative and humanistic care. Its broadcast effect also shows that serious historical dramas that have been de-streamed and remade still have a strong base among traditional audiences.

"The Year of Peace" is directed by Yang Lei and Lu Beike, starring Bai Yu and Zhou Yutong, and is produced by CCTV, Huace Group, Zhejiang Radio and Television Group, Tencent Video, iQiyi, Mango TV, Jinkeqiao Cultural Tourism Group, and Wasu Media.

Top 20 popular dramas of the day

TOP20 ranking

Golden Branches (53% by Chen Que'er, 30% by Lu Xingzhi) Ten Years of Light in the Night Rain in Jianghu (37% by Mu Qingyan, 32% by Cai Zhao) Fifteen Days in Two Capitals (59% by Zhu Zhanji, 27% by Wu Dingyuan) Why not chase jade on a clear day in early spring by boat across the bushes of roses, never leave the protagonist, Tomorrow Paradise, Our Boyhood 2 The perfect minister in white, the prince in white, winter has passed and spring has come, this second has passed by the fire, the moon and the scales are irreplaceable, and today I have not turned into a doll. The red dancing shoes

Today's Interpretation of Detawen

The official release of the urban romance drama "Rose" will be announced on February 26. As a reserve drama of Tencent Video's Firefly unit, the drama quickly attracted pan-entertainment attention due to the high discussion of the original IP. The original comic "Cicada Girl" takes "appraisal of love" as the core of the story, and deeply explores trust, betrayal and human contradictions in modern intimate relationships. The plot is extremely tense. However, the series has been backlogged for three years and has been renamed five times. There are few official materials. This mysterious promotion strategy has caused viewers to doubt the quality of the series. The partnership between Wang Ziwen and Liu Yuning makes it difficult to guess the effect. Many viewers are waiting for the premiere with a "taste it" mentality. "Rose" is directed by Yang Lei, starring Wang Ziwen and Liu Yuning, and produced by Tencent Video, China Literature Film and Television, and Tencent Tianpeng Studio Group.

Set as a star so you don’t miss exciting content

Putuo District Cultural Center Launches Jiangnan Spring Festival Folk Customs Exhibition, Presenting Colorful New Year Memories

_South Putuo Temple 2021 Spring Festival Couplets_Putuo District Jiangnan style

South Putuo Temple 2021 Spring Festival Couplets_Putuo District Jiangnan style_

_South Putuo Temple 2021 Spring Festival Couplets_Putuo District Jiangnan style

The Spring Festival, as the most solemn traditional festival of the Chinese nation, carries profound cultural heritage and emotional sustenance.

Recently, "Let's Celebrate the New Year Together – Jiangnan Spring Festival Folk Customs Exhibition" was officially launched in the Urban Creative Space Exhibition Hall on the first floor of the Putuo District Cultural Center, presenting a New Year cultural feast with both heritage and novelty to the public.

This exhibition takes Jiangnan Spring Festival culture as the core, taking into account the regional commonality of the "eight cities and one district" along the Shanghai-Nanjing Innovation Industry Belt. Through multiple forms of display, such as physical display, scene restoration and artistic creation, it builds a regional cultural exchange platform and awakens the public's common memory of the New Year. The exhibition is divided into three sections: "Hiding the New Year with New Year's Objects", "Celebrating the New Year with Feasts" and "Drawing the New Year with Pen and Ink", which comprehensively presents the historical changes and cultural connotations of the Spring Festival folk customs in the Jiangnan region.

South Putuo Temple 2021 Spring Festival Couplets_Putuo District Jiangnan style_

The "New Year's Objects Hidden Years" section focuses on the collection of objects related to Jiangnan Spring Festival folk customs, using old objects to tell New Year's stories over the years and outline the customs of different eras. Various traditional cakes and old molds complement each other, replicating the sweet New Year flavor in memories; old advertising papers, calendars, and New Year pictures are displayed side by side, freezing the New Year style in different periods; New Year cards, stamps, sparklers and other small collections carry the warm blessings of the past; red envelopes and old tickets record the changes in Spring Festival customs and lifestyles. Each collection with the warmth of time is not only a vivid carrier of folk culture, but also connects the New Year sentiments shared by generations of people.

"Happy New Year's Eve" takes "Praying for blessings in the Year of the Horse, folk customs, and reunion and sharing" as its theme to create an immersive New Year joy space. The blessing area is equipped with a "Horse Comes Good Luck" blessing device and a "Horse Comes Good Luck" sign, allowing the audience to make New Year's wishes in one stop; in the folk entertainment area, interactive games such as pot throwing, New Year's horse fishing device, and "Horse Lives Good Luck" gong knocking create a lively atmosphere for young and old to enjoy together.

South Putuo Temple 2021 Spring Festival Couplets__Putuo District Jiangnan style

The "Eight Cities and One District" special exhibition area for reunion dinners is set up in the section, which brings together special New Year dishes from all over the Yangtze River to restore the authentic flavor of New Year fireworks; the lanterns are hung high in the exhibition hall with the Chinese characters "Fu", creating a strong festive atmosphere for the Year of the Horse; the "Happy Family" photo check-in spot freezes the warm moment of family reunion. The deep integration of traditional New Year customs and modern interactions allows the audience to feel the excitement and warmth of the New Year in an immersive experience.

The "Painting the New Year with Pen and Ink" section focuses on presenting Spring Festival-themed art works, interpreting the cultural connotation and aesthetic value of Jiangnan New Year customs in multiple art forms. The exhibition area displays artists, photographers, calligraphers, and writers from "eight cities and one district". They create New Year-themed works with brushes, lenses, and ink, integrating traditional customs, regional culture, and contemporary art to bring the audience a visual feast with both literary flavor and New Year interest.

In order to let the audience have an in-depth understanding of Shanghai’s Spring Festival customs and enhance their interest in traditional festival culture, New Year-themed family handicraft workshops were also held during the exhibition. Ms. Li, a citizen, participated in the workshop with her children. She said: "Such activities are very meaningful. The children not only learned about Shanghai's Spring Festival customs, but also participated in the production with their own hands, which made their impression of traditional culture even more profound." There were also many young people at the scene who were attracted by the exhibition. “I used to think that the Spring Festival customs were a bit old-fashioned, but this exhibition presented them in such a novel way. I discovered that there are many interesting stories and culture hidden in the traditional customs, and I fell in love with them right away.” Mr. Wang, a citizen, said.

This exhibition will last until March 22 (closed on Mondays, open normally during the Spring Festival legal holidays) and is open to the public from 9:00 to 17:00 every day. The person in charge of the exhibition expressed the hope that this exhibition will break down the boundaries of age and social circles, attract more young people to pay attention to the local Spring Festival culture, promote the dynamic inheritance and innovative development of old Shanghai Spring Festival customs, and let the Shanghai-style Spring Festival culture glow with new vitality in the new era, becoming a warm link connecting the past, present and future.

European Stock Markets Fell Due To The Impact Of Artificial Intelligence, Affecting Many Industry Sectors And Asset Prices

European stocks reversed course and followed U.S. stocks lower amid widespread concerns about the industry impact caused by artificial intelligence.

The Stoxx Europe 600 index closed down 0.5% after hitting a record high. The S&P 500 fell 1% and the 10-year U.S. Treasury yield fell back. The Nasdaq 100 index fell 1.5%, dragged down by technology giants. Bitcoin, gold and crude oil prices were also lower.

Logistics stocks such as Denmark's DSV A/S and Swiss company Dexel International each fell more than 10%, with the sector becoming the latest victim of "artificial intelligence panic trading".

Emmanuel Cau, a strategist at Barclays, said, "The current concerns about artificial intelligence disruption are spreading rapidly and have evolved into a broader macro/credit issue, no longer an individual stock issue. This reflects market fatigue and panic more than fundamental factors."

Cyclical sectors such as banks, mining and technology were among the worst performers, while defensive sectors such as telecoms and personal care outperformed.

Previously, a batch of optimistic financial reports had boosted market sentiment. Eyewear maker Essilor Luxottica SA shares rose 4.2% after reporting a surge in demand for artificial intelligence glasses, driving sales above expectations. After German industrial company Siemens raised its performance forecast, its stock price hit a record high, eventually closing up 0.3%.

_European stock markets crashed_European stock markets fell across the board

Schroders shares soared 29% as Nuveen agreed to acquire the company for 9.9 billion pounds ($13.5 billion), creating one of the world's largest active asset managers with assets approaching $2.5 trillion.

The Drug HLX15-SC, A Subsidiary Of Fosun Pharma, Has Been Approved For Clinical Trials In The Treatment Of Multiple Myeloma.

Securities code: 600196 Stock abbreviation: Fosun Pharma Number: Lin 2026-022

Announcement of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. on the clinical trial approval of drugs of its controlled subsidiaries

The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.

1. Overview

Recently, Shanghai Henlius Biotechnology Co., Ltd., a holding subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (hereinafter referred to as the "Company"), and its holding subsidiaries (hereinafter collectively referred to as "Fuhong Henlius") received approval from the National Medical Products Administration to conduct a Phase I clinical trial of HLX15-SC (recombinant anti-CD38 fully human monoclonal antibody injection – subcutaneous injection) for the treatment of multiple myeloma. Henlius plans to carry out relevant clinical research on this drug in China (excluding Hong Kong, Macao and Taiwan, the same below) when conditions are met.

2. Basic information and research status of HLX15

HLX15 (i.e., recombinant anti-CD38 fully human monoclonal antibody) is a daratumumab biosimilar independently developed by the Group (i.e., the company and its holding subsidiaries/units, the same below), including subcutaneous injection HLX15-SC and intravenous injection HLX15-IV. It is intended to be used for the treatment of multiple myeloma (MM) and other diseases. In June 2024, the phase I clinical study of HLX15-IV in Chinese male healthy subjects was completed.

As of January 2026, the Group's current cumulative R&D investment in HLX15 is approximately RMB 191.53 million (unaudited).

As of the date of this announcement (i.e. February 12, 2026), the daratumumab preparations that have been marketed globally include DARZALEX? and DARZALEX FASPRO?. According to the latest data from IQVIA MIDAS (provided by IQVIA, a professional information and strategic consulting service provider for the global pharmaceutical and health industry.), in 2024, global sales of daratumumab preparations will be approximately US$12.882 billion.

3. Risk warning

According to relevant Chinese regulatory requirements, HLX15 still needs to conduct a series of clinical studies in China and obtain approval from the national drug review department before it can be marketed. Based on research and development experience, drug research and development involves certain risks. For example, clinical trials may be terminated due to issues such as safety and/or effectiveness.

Drug research and development to launch is a long-term task with many uncertainties. Investors are advised to pay attention to investment risks.

Announcement is hereby made.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd.

Board of Directors

February 12, 2026

The Vice Governor Of Qinghai Province Sends A Letter To The Tree Of Life Crew To Pay Tribute To Ecological Guardians

According to the official public account of the Qinghai Provincial Forestry and Grassland Bureau, on February 12, Liu Tao, Vice Governor of Qinghai Province, wrote a letter to the crew of "The Tree of Life" with the following content:

Dear crew members of "The Tree of Life":

Hello!

Writing this letter coincides with the dawn of dawn in Sanjiangyuan. The distant mountains are covered with snow, and the meadows are green and waiting for suspense. In the tranquility of this world, I am full of emotion and respect, and write to every colleague on the crew – thank you for the work you have devoted so much to polishing, and thank you more for making the sincere story of Plateau heard by more people and remembered by more people. I would like to express my sincerest gratitude for your courage and affection.

"Tree of Life" freezes the lens on the Qinghai-Tibet Plateau, focusing on those silent but never deformed lives, and carving out a piece of history that our generation must never forget. Sonam Dajie, the name of this hero, the back of this passionate man, shed his last drop of blood to protect the Tibetan antelope thirty years ago by the Sun Lake. The scorching cold wind and snow of minus 40 degrees froze his body, but he forged an era of unswerving determination. Since then, Sanjiangyuan is no longer just a plateau in the geographical sense, but has become a highland of faith practiced by generations of ecological guardians with their lives.

As the deputy governor in charge of ecological protection, I have the deepest respect and gratitude for Comrade Sonam Dajie and all the ecological guardians like him who risk their lives to protect each other. It is precisely because of them—mountain patrol team members, grassroots cadres, and herdsmen—who braved the wind and snow and stayed in the wilderness again and again in the years that no one knows, that the Sanjiangyuan today was created:

This is a secret land of mountains and rivers, with majestic snow-capped mountains, clear glaciers, and thousands of rivers rushing like the outstretched arms of the earth;

This is a paradise for creatures. The Tibetan antelope population has recovered from less than 20,000 to more than 70,000. Snow leopards patrol the ridges and black-necked cranes dance in the wetlands.

This is a pure land where man and nature coexist. The herdsmen have turned from users of the grassland to the guardians, and the ecological rangers hold certificates and fulfill their responsibilities. For thousands of years, the tacit understanding between man and nature has never been so deep and profound.

All this is hard-won. And let this hard-won be seen, understood, and cherished, and you have made the greatest contribution. "The Tree of Life" never evades the cruelty of sacrifice, nor loses the tenderness of hope. You show the wind and frost of the plateau, the loneliness of the guardian, and the dignity of life blooming in desperate situations on the screen. This is not only a TV series, but also an affectionate confession dedicated to the earth, heroes and people.

To live up to the martyrs, we can only create a future more worthy of their entrustment. We will firmly promote the construction of the Sanjiangyuan National Park and protect the "Chinese Water Tower" so that every inch of grassland, every creature, and every drop of clear water will receive the respect and care it deserves. I also sincerely hope that "Tree of Life" can enter the hearts of more people, allowing the seeds of ecological civilization to take root, sprout, and grow into towering trees in a wider land.

Tribute to life! Tribute to the heroes! Pay tribute to the thousands of creatures on the plateau!

May the "Tree of Life" remain evergreen, may the Three Rivers Source be safe, and may every guardian return safely.

Sincerely

salute!

Liu Tao

February 12, 2026

_Deputy Secretary of the Qinghai Provincial Party Committee_Deputy Secretary of the Qinghai Provincial Committee

ST Jinbi: The Company's Stock May Be Terminated From Listing, Here Is A Risk Warning

Securities code: 002762 Securities abbreviation: *ST Jinbi Announcement Number: 2026-007

Blonde Rabbi Maternal and Infant Products Co., Ltd.’s Risk Warning Announcement on the Possible Termination of Listing of the Company’s Stocks

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.

Special tips:

1. Jinfa Rabbi Maternal and Infant Products Co., Ltd. (hereinafter referred to as the "Company") disclosed the "2024 Annual Report" on April 23, 2025. The 2024 financial data touches on Article 9.3.1 of the "Shenzhen Stock Exchange Stock Listing Rules" "(1) The lower of the audited total profit, net profit, and net profit after deducting non-recurring gains and losses in the most recent fiscal year is negative, and the operating income after deduction is less than 3 100 million" situation, the company's stock has been issued a "delisting risk warning" by the Shenzhen Stock Exchange from April 24, 2025 (the stock abbreviation is preceded by the word "*ST").

2. The company disclosed the "2025 Performance Forecast" (Announcement No. 2026-004) on January 28, 2026 in the "China Securities Journal", "Shanghai Securities News", "Securities Times" and cninfo.com (http://www.cninfo.com.cn). Please refer to the company's officially disclosed audited "2025 Annual Report" for final financial data.

3. According to Article 9.3.6 of the "Shenzhen Stock Exchange Stock Listing Rules": ① After a listed company is subject to a delisting risk warning for its stock trading due to the circumstances of the first to third items of paragraph 1 of Article 9.3.1 of these rules, it shall disclose a risk warning announcement that the stock may be terminated from listing within one month after the end of the fiscal year in which its stock trading is subject to a delisting risk warning. After the disclosure of the first risk warning announcement and before the disclosure of the annual report, a risk warning announcement shall be disclosed every ten trading days. ② After a company is subject to a delisting risk warning for its stock transactions due to the circumstances mentioned in Items 1 to 3 of Paragraph 1 of Article 9.3.1 of these Rules, it shall disclose the preparation of the annual report and the latest audit progress 20 trading days and 10 trading days before the scheduled disclosure date of the annual report respectively.

In accordance with the requirements of the above rules, the company has disclosed its first risk warning announcement on January 31, 2025. This announcement is the second risk warning announcement. After the disclosure of this risk warning announcement and before the disclosure of the "2025 Annual Report", the company must disclose a risk warning announcement every ten trading days.

As of the disclosure date of this announcement, the financial listing termination situations that the company may be involved in are as follows:

1. Reasons why the company’s shares may be terminated from listing

The company disclosed the "2024 Annual Report" on April 23, 2025. The audited annual report data showed that the company's total profit in 2024 was 70.7693 million yuan and net profit was 49.686 million yuan. 70,000 yuan, net profit after deducting non-recurring gains and losses -45.3168 million yuan, whichever is lower, the net profit after deducting non-recurring gains and losses -45.3168 million yuan is negative, and the operating income after deduction is less than 300 million yuan. The above financial data touches on the situation in Article 9.3.1 of the "Shenzhen Stock Exchange Stock Listing Rules" "(1) The lower of the audited total profit, net profit, and net profit after deducting non-recurring gains and losses in the most recent fiscal year is negative, and the operating income after deduction is less than 300 million yuan." The company's stock will be subject to a "delisting risk warning" from April 24, 2025 (the stock abbreviation is preceded by the word "*ST").

If the company encounters the following circumstances stipulated in Article 9.3.12 of the Shenzhen Stock Exchange Stock Listing Rules in 2025, the company's shares may be terminated from listing:

“9.3.12 After a listed company’s stock trading is subject to a delisting risk warning due to the situation in paragraph 1 of Article 9.3.1 of these Rules, if one of the following circumstances occurs in the year following the corresponding year when the delisting risk warning situation is actually encountered, the Exchange will decide to terminate the listing and trading of its stocks:

(1) The lower of the audited total profit, net profit, and net profit after deducting non-recurring gains and losses is negative, and the operating income after deduction is less than 300 million yuan.

(2) The audited net assets at the end of the period are negative.

(3) The financial accounting report is issued with a qualified opinion, a disclaimer of opinion or an audit report with a negative opinion.

(4) After the retrospective restatement, the lower of total profit, net profit, and net profit after deducting non-recurring gains and losses is negative, and the operating income after deduction is less than 300 million yuan; or the net assets at the end of the retrospective restatement period are negative.

(5) An audit report with a disclaimer of opinion or negative opinion is issued on the internal control of financial reporting.

(6) Failure to disclose the internal control audit report in accordance with regulations, except when it cannot be disclosed in accordance with relevant regulations due to the completion of bankruptcy reorganization, reorganization and listing, or major asset restructuring.

(7) Failure to disclose within the statutory period an annual report that is guaranteed to be true, accurate and complete by more than half of the directors.

(8) Although it complies with the provisions of Article 9.3.8, it fails to apply to the Exchange for cancellation of the delisting risk warning within the prescribed period.

(9) The application for canceling the delisting risk warning was not reviewed and approved by the Exchange.

(10) Other circumstances determined by the Exchange. "

If the company encounters any of the above-mentioned circumstances in 2025, the company's shares will face the risk of being terminated from listing.

2. Key Risk Matters

The company disclosed the "2025 Performance Forecast" (Announcement No. 2026-004) on January 28, 2026 in China Securities Journal, Shanghai Securities News, Securities Times and cninfo.com (http://www.cninfo.com.cn). The company has fully communicated with the annual audit accounting firm on matters related to the performance forecast, and the two parties have no disagreements on matters related to this performance forecast. For final financial data, please refer to the audited "2025 Annual Report" officially disclosed by the company.

3. Disclosure of previous listing termination risk warning announcements

Article 9.3.6 of the "Shenzhen Stock Exchange Stock Listing Rules": ① After a listed company is subject to a delisting risk warning for its stock trading due to the circumstances of items 1 to 3 of paragraph 1 of Article 9.3.1 of these rules, it shall disclose a risk warning announcement that the stock may be terminated from listing within one month after the end of the fiscal year in which its stock trading is subject to a delisting risk warning. From the disclosure of the first risk warning announcement to the disclosure of the annual report, a risk warning announcement shall be disclosed every ten trading days. ② After a company is subject to a delisting risk warning for its stock transactions due to the circumstances mentioned in Items 1 to 3 of Paragraph 1 of Article 9.3.1 of these Rules, it shall disclose the preparation of the annual report and the latest audit progress 20 trading days and 10 trading days before the scheduled disclosure date of the annual report respectively.

1. The company has disclosed its first risk warning announcement on January 31, 2025;

2. This announcement is the second risk warning announcement. After the disclosure of this risk warning announcement and before the disclosure of the "2025 Annual Report", the company is required to disclose a risk warning announcement every ten trading days.

4. Other matters

The company will continue to strictly comply with the provisions and requirements of relevant laws and regulations, conscientiously perform its information disclosure obligations, and do a good job in information disclosure in a timely manner. The company solemnly reminds investors: "China Securities Journal", "Securities Times", "Shanghai Securities News" and Juchao Information Network (http://www.cninfo.com.cn) are the company's designated information disclosure media. All the company's information is subject to the information published in the above designated media. Investors are requested to invest rationally and pay attention to risks!

Announcement hereby

The Board of Directors of Blonde Rabbi Maternal and Infant Products Co., Ltd.

February 13, 2026

Jiangsu Huachen: Announcement That The Proportion Of Convertible Bond Holdings Of Bond Holders Has Changed By 10%

Securities code: 603097 Securities abbreviation: Jiangsu Huachen Announcement No.: 2026-008

Bond code: 113695 Bond abbreviation: Huachen convertible bonds

Jiangsu Huachen Transformer Co., Ltd.

Announcement on the 10% change in the proportion of convertible bonds held by bondholders

The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.

1. Placement of convertible bonds

With the approval of the China Securities Regulatory Commission's Securities Regulatory Commission Document No. 988 (2025), Jiangsu Huachen Transformer Co., Ltd. (hereinafter referred to as the "Company") issued 4,600,000 convertible corporate bonds to unspecified objects on June 20, 2025, with a face value of RMB 100 each, and a total issuance of RMB 460,000,000, with a term of 6 years. As approved by the Shanghai Stock Exchange's Self-Regulatory Supervision Decision [2025] No. 155, the 460 million yuan convertible corporate bonds issued by the company will be listed and traded on the Shanghai Stock Exchange on July 10, 2025. The bond abbreviation is "Huachen Convertible Bonds" and the bond code is "113695".

The company's controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert Zhang Xiaobao, Zhang Chenchen, Zhang Xiaoyu and Zhang Xiaoyin subscribed for a total of 3,132,640 "Huachen Convertible Bonds" through preferential allotment by the original shareholders, accounting for 68.10% of the company's total convertible corporate bonds issuance.

2. Changes in convertible bond holding ratio

From January 19, 2026 to January 23, 2026, the controlling shareholder and actual controller Zhang Xiaojin reduced his holdings of "Huachen Convertible Bonds" by a total of 600,000 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 13.04% of the total issuance. After the reduction, the controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert hold 2,532,640 "Huachen Convertible Bonds", accounting for 55.06% of the total amount of convertible bonds issued. For details, please refer to the "Jiangsu Huachen Transformer Co., Ltd.'s Announcement on the Change in the Proportion of Bond Holders' Convertible Bonds Holding by 10%" disclosed by the company on January 24, 2026 (Announcement Number: 2026-003).

From January 26, 2026 to February 3, 2026, the controlling shareholder and actual controller Zhang Xiaojin and his concerted parties reduced their holdings of "Huachen Convertible Bonds" by a total of 560,000 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 12.17% of the total issuance. After the reduction, the controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert held 1,972,640 "Huachen Convertible Bonds", accounting for 42.88% of the total amount of convertible bonds issued. For details, please refer to the "Announcement of Jiangsu Huachen Transformer Co., Ltd. on the change in the proportion of convertible bonds held by bondholders reaching 10%" disclosed by the company on February 4, 2026 (Announcement Number: 2026-006).

Recently, the company received a notice from the controlling shareholder and actual controller Zhang Xiaojin and his persons acting in concert. From February 4, 2026 to February 11, 2026, the controlling shareholder and actual controller Zhang Xiaojin and his persons acting in concert reduced their holdings of "Huachen Convertible Bonds" by a total of 565,140 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 12.28% of the total issuance. The specific changes are as follows:

Note: 1. The total issuance amount in the above table is the initial issuance amount of 4,600,000 pieces.

2. If the total number of the above values ​​does not match the sum of each sub-item value, it is due to rounding.

Announcement is hereby made.

Board of Directors of Jiangsu Huachen Transformer Co., Ltd.

February 13, 2026

78-year-old Zhang Ruian Is Mostly Empty-hearted: His Younger Brother Left First, The 34-year Relationship Between Brother And Sister That Has Been Together Day And Night Is Tearful

_To guard and accompany_To accompany and guard the meaning

_To guard and accompany_To accompany and guard the meaning

With his younger brother gone, 78-year-old Zhang Ruian is mostly empty-hearted.

At the dining table in the early morning, as usual, she subconsciously wanted to serve a bowl of rice to her brother first. When she turned around, the seat was empty, and she came to her senses: her brother was gone. Tears blurred vision.

In the past 34 years, Zhang Ruian often worried about what her brother, who suffered from epilepsy and had the mind of a child, would do if she passed away first. Now, my brother is gone first. Sitting in her brother's room, she felt in a trance. The time the siblings spent together day and night became clearer, and a voice rang in her ears, "Sister! I'm back!"

To guard and accompany__To accompany and guard the meaning

Caption: A photo of siblings.

"Sister! Where are you going?"

Zhang Ruian was born in Huangpu District, Shanghai. He is the second eldest son in his family. He has an elder brother who is 7 years old. The younger brother has been very timid since he was a child, and loves to cling to her the most. Whenever he sees Zhang Ruian going out, his younger brother always shouts: "Sister, sister! Where are you going?" The younger brother is like her little tail.

When my younger brother was 6 years old, he got meningitis. In the hospital, Zhang Ruian heard the doctor ask his father: "Should we save him? If he is rescued, his brain may be bad." Zhang Ruian's heart tightened suddenly. "Save!" the father said firmly.

The younger brother's life was saved, but his "brain is bad", he cannot communicate normally, he can only laugh naively, and he also suffers from epilepsy. Zhang Ruian taught him how to read a clock and recognize money many times, but his younger brother forgot what he learned. Once, a neighbor's child teased her, "You have a fool in your family." Zhang Ruian, who was usually kind, was so angry that she trembled all over. She covered her head and cried when she got home. Her father told her: "There is nothing we can do about my brother's illness. No matter what others say, we cannot look down on him."

When he was 17 years old, Zhang Ruian went to Xinjiang to support the border area, where he got married and started a business, and gave birth to two sons. Thousands of miles away, her brother is always the deepest concern in her heart. The younger brother worked some manual labor in a factory in an alley, got married and divorced, and had no children. Later, I fell ill every three days, and it became difficult to continue working.

When the younger brother was 37 years old, his father died. My mother, who had always been a housewife, panicked and wrote to Zhang Ruian. After Zhang Ruian discussed it with his wife, he wrote back: "Mom, bring my brother to Xinjiang."

“The conditions were really hard at the time, but there was always something for them to eat,” Zhang Ruian recalled. In Xinjiang, my younger brother and mother have no jobs, and my younger brother relies on his elder brother to regularly send him medicine from Shanghai. The family relied on the couple's meager salary to support themselves. After their sons were admitted to college, life became even tighter. In addition to going to work, Zhang Ruian also worked odd jobs here and there. The younger brother is still like what he did when he was a child. He follows his sister wherever she goes, planting sunflowers and watering the vegetable fields together. My younger brother can't cook, so Zhang Ruian prepares three meals day after day, and the first bowl of rice always belongs to his younger brother.

Later, my mother also left. The eldest sister is like a mother, Zhang Ruian has taken over all the responsibilities.

_To accompany and guard the meaning_To guard and accompany

Caption: Old photos on your phone freeze memories.

"Sister takes you home"

When his younger brother was 43 years old, 50-year-old Zhang Ruian retired. The sons had married in Shanghai and hoped that their parents would return to Shanghai. Zhang Ruian and his wife decided to bring their younger brother back. Zhang Ruian asked his younger brother: "Do you still remember our home in Shanghai? My sister will take you home." His younger brother grinned: "My home is in Shanghai, remember."

My home in Shanghai is an old house of 30 square meters left by my parents. Previously, the eldest brother was considerate of his sister's efforts and left his parents' house to her. After returning to Shanghai, Zhang Ruian, his wife, and his brother huddled in this room together. After the house was demolished a few years later, the couple discussed using the compensation money to buy a new house in Songjiang.

"Songjiang has a good environment and cheap housing prices, making it suitable for elderly care," Zhang Ruian said. The sons hope that they will stay in the city so that they can take care of her more easily, and they will spend their respective demolition funds to buy a house for her. But she and her lover still wanted to be strong and did not want to cause trouble to the children, so they decided to come to Songjiang. Before viewing the house, her youngest son asked her what her requirements were for the new house. She said, "If you want two bedrooms, leave one room for your uncle." Finally, she chose a two-bedroom apartment on the first floor in Tianhong No. 4 Village, with both bedrooms facing south, and she lives there until now.

After working in Xinjiang for many years, Zhang Ruian suffered from a series of diseases: rheumatism, lumbar disc herniation, bone hyperplasia… The finger joints have been deformed. In recent years, as I get older, I cannot walk without crutches and rely on a wheelchair when going out. My wife is also in her nineties, has a bad heart, and has inconvenient legs and feet.

Sometimes when she was busy in the kitchen, her younger brother came over and said, "Sister, where are my socks?" "Go and look for them in your room." After a while, the younger brother came over again and said, "Sister, where are my shoes?" Zhang Ruian was upset by the question and couldn't help but raise his voice: "How could I know about your shoes?" Finally, Zhang Ruian sighed and went to help him find them. Sometimes she wanted her younger brother to help mop the floor, but he muttered: "I mopped it yesterday." She got angry and said, "Well, you had dinner yesterday, do you want to eat today?" Seeing her lose her temper, her husband always tried to persuade her: "Why are you yelling at him? He is just a child." Zhang Ruian could only say helplessly: "I'm exhausted."

There are times when my younger brother does something stupid, such as breaking hot water bottles and light bulbs at home. Zhang Ruian was so angry: "If you don't obey me, I'll send you out." Her younger brother immediately came to her and said, "Sister, I'm obedient." Her heart suddenly softened again. My younger brother can't stay at home and likes to go out. Outside, he sometimes stares at others, which makes people disgusted. Zhang Ruian always has to make others smile. My younger brother doesn't look at the road when he walks, and he will fall over on flat ground. In short, Zhang Ruian has endless worries.

Her son and daughter-in-law asked her to hire a nanny many times, but she refused: "I can still move, so I won't spend that money." The children were very filial. During her two hospitalizations for surgery, the children took their uncle over and took good care of her, making her feel at ease in the hospital. Afraid that their uncle would get lost, they bought two locators and asked him to wear them. At the same time, they installed an app on their mother's phone so they could check his location at any time.

The surprise came anyway. One day a few years ago, my younger brother went out at noon and didn't come home until dark. Only then did Zhang Ruian realize that the locator was left at home, and she and her husband called the police. Zhang Ruian stayed up all night, and for the next few days, he stayed at the window every day, shouting: "Ruiyang (brother's name), come back soon…" On the sixth day, the police found his brother in Maogang. The younger son immediately drove his uncle back. As soon as his younger brother walked in, Zhang Ruian burst into tears – his younger brother was skinny and skinny. "Why are you so thin? Have you eaten these days?" "I haven't eaten. I drank water." Zhang Rui comforted his brother's back, blaming himself.

_To accompany and guard the meaning_To guard and accompany

Caption: Zhang Ruian takes his younger brother to participate in community activities.

"What should I do, brother?"

Every Spring Festival, my sons would take the three of them to the city to celebrate the New Year. Her two sons left her when they were 18 years old, and her younger brother is still with her at the age of 70. Sometimes Zhang Ruian couldn't help but worry: "What will happen to my brother after I die?" The children comforted her: "We are still there, Mom, don't worry." Zhang Ruian shook his head: "You still have children and parents to support, so we can't drag you down…" The children said, "It really doesn't work. There is a nursing home. Hire a nanny for your uncle. Don't worry, we will find a solution by then."

After the Spring Festival in 2025, Zhang Ruian discovered that his younger brother's memory was declining rapidly. He would go to the wrong bedroom, mistake the kitchen for the bathroom, and sometimes fall two or three times a day, but fortunately he was fine.

One day after winter, Zhang Ruian and his wife called the police again when his brother went out to take out the garbage and did not return for several hours. My wife drove an electric wheelchair and went to the police station with her brother's ID card. She and the police checked the public video. After searching for more than an hour, they couldn't find him. The police drove to the street to look for him, and finally found his brother on Wenxiang Road and sent him home. It turned out that after my brother threw away the garbage, he couldn't remember where his home was. Afterwards, Zhang Ruian customized a banner and sent it to the police station to express his gratitude.

His younger brother got into trouble one after another, and Zhang Ruian realized that his younger brother, who was already in his seventies, was getting old. This worried her. In one year, she lost more than 20 pounds.

In the early morning of January 7, 2026, Zhang Ruian called his brother to get up, but his brother didn't answer. She suddenly remembered that her brother had fallen at home the day before and quickly called an ambulance. After the doctor diagnosed her, he asked her: "There is blood in the brain, can we save it?" Zhang Ruian blurted out: "Save!" without hesitation, just like his father back then. Zhang Ruian's two sons rushed to Songjiang after hearing the news. They immediately purchased hospital supplies and hired nurses.

My brother was transferred to the intensive care unit after surgery. Zhang Ruian was unable to visit and was restless at home. Knowing that she was anxious, her youngest son rushed to the hospital from Minhang every day to "broadcast" her condition. On January 16, the critical illness notification came, and on the same day, my brother passed away.

The next day, Zhang Ruian was hospitalized for high blood pressure and was discharged a week later.

"Sister! I'm back!"

When the reporter came to visit, Zhang Ruian put on his reading glasses and opened the photo album on his mobile phone: "This is my younger brother and I participating in activities in the community. He watched me playing cards and having fun, and he was laughing next to me." "This is my wife accompanying my younger brother to participate in the game." "This is a family photo, and the one standing in the middle is my younger brother."… Zhang Ruian's fingers gently stroked the screen.

Zhang Ruian didn't feel relieved after her brother left, because she never regarded her brother as a burden. Now, she was sitting at home, and in a daze, the familiar call sounded in her ears again – "Sister! I'm back!" She subconsciously looked at the door. In the past, her brother would shout like this every time he entered the door, with a loud voice and child-like joy. But now, my brother will never push in the door again.

Pan Yan, secretary of the party branch in the residential area, remembers clearly: her sister was sitting in a wheelchair, and her younger brother, who was cleanly dressed, was pushing her behind. Sometimes the elder sister turns around and says something, and the younger brother smiles innocently. What touched Pan Yan even more was that Zhang Ruian always had an open-minded tenacity and never complained. Feng Guihua, president of the Rongmei Community Elderly Association, also expressed emotion: "This sister is amazing! For decades, she has taken care of her younger brother like a parent taking care of their children. She is very responsible. When my sister is in a wheelchair, my younger brother becomes the person pushing the wheelchair. The sister and brother support each other throughout their lives."

_To accompany and guard the meaning_To guard and accompany

Caption: Zhang Ruian shows a photo with his younger brother.

Before the Spring Festival, Pan Yan visited the old man's house as usual, held the old man's hand and said: "Aunt Zhang, you and your uncle should take care. If you have any difficulties, we will always go to the neighborhood committee. We are here." Zhang Ruian's eyes turned red: "The community has been so good to us! I have to live a good life to be worthy of everyone's concern." She muttered: The neighborhood committee helped me get my disability certificate. The wheelchair and toilet were given by the community; after not participating in several community activities since the beginning of last spring, the neighborhood committee staff called to inquire about the situation; the disabled passage at the corridor door was repaired by Secretary Pan in contact with a caring enterprise… "Every time I go out in a wheelchair, I think of these warmth." Zhang Ruian said gratefully.

In her bedroom, there is a photo of her and her brother before the Spring Festival in 2024. Both siblings were wearing bright red Chinese vests, holding red Chinese knots in their hands, and smiling at the camera. "The community sent someone to take the photos for free," Zhang Ruian looked at the photos and said softly, "How nice."

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