Luyang Energy Saving announced that the company received a “Notice Letter” from the controlling shareholder QineAsia Pacific on July 13, 2026, and learned that its indirect controlling shareholder Ulysses is planning bankruptcy and restructuring. If this matter is successfully implemented, the company's current actual controller will no longer hold Ulysses shares, and the company may change from having an actual controller to having no actual controller. The negotiations have now entered an advanced stage and are expected to be completed soon. Qinai Asia Pacific will continue to hold 52.66% of the company's shares and will continue to maintain its position as controlling shareholder. This matter will not have a substantial impact on the company's daily production and operation.

Luyang Energy Saving announced that the company received a “Notice Letter” from the controlling shareholder QineAsia Pacific on July 13, 2026, and learned that its indirect controlling shareholder Ulysses is planning bankruptcy and restructuring. If this matter is successfully implemented, the company's current actual controller will no longer hold Ulysses shares, and the company may change from having an actual controller to having no actual controller. The negotiations have now entered an advanced stage and are expected to be completed soon. Qinai Asia Pacific will continue to hold 52.66% of the company's shares and will continue to maintain its position as controlling shareholder. This matter will not have a substantial impact on the company's daily production and operation.