Baofeng Energy's Controlling Shareholder Unpledges Significant Stock Holdings

Ningxia Baofeng Energy Group Co., Ltd. (the "Company") announced that its controlling shareholder, Ningxia Baofeng Group Co., Ltd. ("Baofeng Group"), has unpledged 400,000,000 shares of the Company's stock. This transaction, processed on July 18, 2025, through CITIC Securities, represents 15.30% of Baofeng Group's total holdings and 5.45% of the Company's total share capital.

As of the end of Q1 2025, Baofeng Group held 2,614,211,270 shares, accounting for 35.65% of the Company's total share capital. Following this unpledging, Baofeng Group's remaining pledged shares total 250,000,000, which is 9.56% of its holdings and 3.41% of the Company's total share capital.

The Company will continue to disclose any future pledging activities by its shareholders in accordance with regulatory requirements.