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1. On September 19, 2022, the official website of Wushen Banner published a public notice prior to the approval process for the environmental impact assessment of Baofeng Energy’s innovative demonstration project aimed at reducing carbon emissions through the integration of green hydrogen and coal chemical processes. The project plans to maintain an olefin production capacity of 3 million tons, of which 2.6 million tons will be produced from coal, with the remaining amount being generated through the use of green hydrogen. 2. Baofeng Energy’s main business is coal-to-olefins production. The main products are polyethylene and polypropylene. Baofeng Energy currently has an existing coal mining capacity of 7.2 million tons per year. 3. Baofeng Energy is the leader of the new coal chemical industry cluster ； Centered on modern coal chemical industry, olefin products include polyethylene, polypropylene, and olefin by-products; coking products comprise coke and coal coking by-products; while fine chemical products include products obtained from the hydrogenation purification of crude benzene, deep-processing products of coal tar, and deep-processing products of butane derivatives. 4. On April 20, 2020, Baofeng Energy stated on the investor interaction platform that the integrated solar water electrolysis hydrogen production project it has begun constructing is currently the largest integrated renewable energy-based hydrogen production and storage project in China. The coal-to-olefins project of Inner Mongolia Baofeng Coal-based New Materials Co., Ltd., a subsidiary of Baofeng Energy in Inner Mongolia, along with the project for producing 1 million tons per year of olefins through the use of green hydrogen, has been successfully approved. According to the publicly released Environmental Impact Assessment Report for this innovative demonstration project aimed at reducing carbon emissions through the integration of green hydrogen and coal chemical processing, the production capacity can be increased from the currently approved 2.6 million tons per year to 3 million tons per year, without any increase in coal consumption.