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Announcement by Shandong Hualu Hengsheng Chemical Co., Ltd. on the Successful Development of New Products Author/Source: Hualu Hengsheng New Energy Date: 2022-01-18 Clicks: 13 The board of directors of our company and all its directors guarantee that there are no false records, misleading statements, or significant omissions in the content of this announcement, and they assume individual and joint responsibility for its accuracy, correctness, and completeness. Shandong Hualu Hengsheng Chemical Co., Ltd. (hereinafter referred to as the “Company”) has recently successfully developed electronic-grade methyl ethyl carbonate and diethyl carbonate products (hereinafter referred to as the “new products”). The successful development of these products has enriched the Company’s product portfolio in the field of new energy and expanded its industrial chain. I. Background of new product development: In recent years, due to the increasing scarcity of oil resources, the strong emphasis on energy conservation and environmental protection, and the advent of the 5G era, there has been a continuous rise in demand for new energy power generation and energy storage both domestically and internationally. As a result, new energy vehicles have seen rapid development. Lithium batteries have advantages over other types of batteries, such as strong power storage capacity and small size. As a result, global demand for lithium batteries has increased significantly, and the demand for electrolytes used in them is also on the rise. As important components of lithium battery electrolytes, electronic-grade methyl ethyl carbonate and diethyl carbonate hold significant potential for market growth. II. Introduction to New Products: The production process for the company’s new products utilizes transesterification technology. By taking into account the key quality requirements of the electrolyte market both domestically and internationally, adjustments have been made; through analysis and testing, the production process has been optimized, and the product quality now meets electronic-grade standards. Further improvements are still being carried out. III. Impact on the Company: With the successful development of the new product, the company now has the capability to produce three types of electrolyte solvents. This enhances its ability to operate in an integrated manner and to provide comprehensive services. It will enable the company to enter the new energy market more smoothly; while contributing to the rapid development of this industry, it will also lay a solid foundation for the company’s future transformation and growth. IV. Risk Warnings: The future sales performance of this new product and customer satisfaction in the market remain to be seen, posing uncertainties regarding its market promotion. Therefore, investors are advised to be aware of investment risks and make rational investments.