Oriental Energy subsidiaries to divest precious metal catalysts

Oriental Energy announced its subsidiaries, Oriental Energy (Ningbo) New Materials Co., Ltd. and Oriental Energy (Maoming) Co., Ltd., will sell spent catalysts containing platinum. Approved by the board on December 26, 2025, this move is part of routine operations to manage valuable assets and improve cash flow. The transaction is structured as a framework agreement with Xuzhou Haotong New Materials Technology Group Co., Ltd., with specific quantities determined by future orders.

An appraisal report by Zhonglian Asset Appraisal Consulting (Shanghai) Co., Ltd., dated December 25, 2025, valued the spent catalysts at 1,110,146,614.51 yuan. This represents an appraisal gain of 58,275.14 yuan, or 110.50%, over the book value of 52,739.53 yuan. The increase is attributed to a substantial rise in market prices for the platinum contained in the catalysts compared to their initial purchase cost.

The valuation, based on market price and considering the catalysts' characteristics, utilized a market-based approach. The appraisal took into account the weight, platinum content, non-tax platinum price, and recovery rate, subtracting processing fees. This strategic divestment is expected to positively impact Oriental Energy's operating performance.