On December 1, 2021, China Investment Bureau of Hebei Mancheng Economic Development Zone Management Committee organized six departments, including the District Development and Reform Bureau, Science and Technology Bureau, tax Bureau, Administrative examination and Approval Bureau and Environmental Protection Bureau, to formally conduct joint project evaluation on the construction of "boron material production base" project declared by Baoding Ruihang Technology Co., LTD. (Baoding Borda new Material investment registration). The joint investigation group of more than ten people first of all to the company's Xushui District, Jingxiu District production plant field research.

After the on-site inspection, the investigation team listened to the PPT about the project application and report materials in the meeting room of the company. The relevant person in charge of the company made a detailed introduction on the basic situation of the company, project background, project overview, investment scale and income analysis, construction significance and other aspects.

After hearing the report, the leaders of the investigation team had an in-depth communication with the main leaders of our company on the production process, scientific and technological innovation, investment plan, market supply, tax income and other issues involved in the project, and carefully reviewed the relevant certification materials. After the meeting, the leaders of the investigation team fully discussed and reviewed and reached a consensus that the project has a broad market prospect and positive significance in stimulating the development of local industry and filling the gap in relevant industry materials. We plan to approve our company's application for project approval. In the next step, our company will follow the relevant regulations of the development zone, fulfill the relevant procedures of planning, approval, environmental assessment and so on, and strive to enter the project construction stage as soon as possible.