On the evening of March 21, Yongjin issued an announcement that the company's wholly-owned subsidiary, Shinyue Asset Management (Singapore) Private Limited, would jointly invest in the establishment of Jiada Türkiye Metal Manufacturing and Trading Co., Ltd. (tentative name, subject to the final registered name, referred to as the "joint venture") in conjunction with Lanhe Holdings (Singapore) Co., Ltd. and Hainan Fuxinhui Investment Co., Ltd., to invest in the construction of the "400000 tons of cold-rolled stainless steel plate and strip project annually" and further expand the overseas business landscape.

1. Basic Information of the Joint Venture The registered capital of the Joint Venture is US $95 million (the specific amount of lira is converted at the official exchange rate of Türkiye on the registration date), and its business scope covers research and development and production of precision stainless steel, manufacturing and processing of stainless steel products, metal material trade, and import and export business (finally subject to the approval of industrial and commercial registration). The investment details of each joint venture party are as follows: 1) New Vietnam Asset Management (Singapore) Private Limited: contributed 76 million US dollars in currency, accounting for 80%; 2) Lanhe Holdings (Singapore) Limited: Monetary contribution of USD 14.25 million, accounting for 15%; 3) Hainan Fuxinhui Investment Co., Ltd.: Monetary contribution of 4.75 million US dollars, accounting for 5%. The time for the capital contribution to be made will be determined by the shareholders through negotiation based on the project's funding requirements after the company registration is completed.

2. The core content of the project The total planned investment of the project is about 1.868 billion yuan, of which the construction investment is about 1.537 billion yuan. The construction period is 24 months. The project is located in Yalova Machinery Professional Organization Industrial Zone, Türkiye. The project will construct two production lines: one with an annual output of 320000 tons of 300 series 2B cold-rolled stainless steel plate and strip production line, and one with an annual output of 80000 tons of 300/400 series BA cold-rolled stainless steel plate and strip production line. The funds are mainly solved through the joint venture company's own and self raised funds.

At present, the investment cooperation agreement has not been signed and the joint venture company has not been established. Subsequently, Yongjin Shares will follow the review procedures in accordance with the law and disclose progress.