Tranche Update on Shanxi Huhua Group Co., Ltd.'s Equity Buyback Plan announced on February 6, 2024.

Shanxi Huhua Group Co Ltd is a China-based company mainly engaged in the research and development, production and sales of various types of civil explosives. The Company also provides customers with specific engineering blasting solutions and blasting services. The Company's main products are industrial explosives, industrial detonators, industrial cables and other initiating equipment. Its products are used in mining, metallurgy, transportation, water conservancy, power, construction and petroleum fields. The Company is also engaged in digital electronic detonator chip design research and development and consumer electronics product design services. The Company conducts its businesses within the domestic market and to overseas markets.