Xinxing Ductile Iron Pipes' 2024 AGM legal opinion issued

Beijing Zhong Lun Law Firm has issued a legal opinion affirming the legality and effectiveness of Xinxing Ductile Iron Pipes' 2024 Annual General Meeting (AGM) held on May 8, 2025. The opinion confirms that the meeting's convocation, procedures, attendee qualifications, and voting processes adhered to relevant laws, regulations, and the company's articles of association. Key resolutions passed included approval of the 2024 board and supervisory board work reports, financial statements, annual report, and profit distribution plan. The meeting saw a total of 672 shareholders and representatives attend, holding a total of 1,770,115,031 shares or 44.6640% of outstanding voting shares. The law firm's opinion verifies the legitimacy of the AGM's outcomes.