China Sanjiang Fine Chemicals Company Limited and Jiafu New Material entered into the Sanjiang Chemical Toluene Sales Agreement pursuant to which, Sanjiang Chemical has agreed to supply Toluene to Jiafu New Material for a period of approximately six months commencing on the date of this announcement and ending on 31 December 2023 at annual caps not exceeding RMB 20,000,000. The Sanjiang Chemical Toluene Sales Agreement shall become effective from the date of this announcement and has a term of approximately six months ending on 31 December2023 which may be renewable upon further agreement by the parties (subject to compliance with the Listing Rules).