Recently, BGT (Beijing) New Materials Technology Co., Ltd., a wholly-owned subsidiary of BGT Group, acquired controlling interest in Guangnan County Jinxin Metallurgical Furnace Materials Co., Ltd. (hereinafter referred to as “Jinxin Metallurgical”) through a combination of equity transfer and capital increase. Upon completion of this transaction, Jinxin Metallurgical will be consolidated into the company’s financial statements.

Established in 2000, Jinxin Metallurgy primarily engages in non-ferrous metal smelting and furnace charge processing, and possesses mature production lines and technical expertise in the comprehensive utilization of antimony resources. Currently, the company holds one valid exploration license (for the Zaojiaoshu Antimony Mine in Guangnan County, Yunnan Province). The cumulative proven (reserve) resources that have passed evaluation and filing amount to 1.2104 million metric tons of ore, containing 44,373 metric tons of antimony metal, with an average grade of 3.67%. Of these, Proved Resources: 231,800 metric tons of ore, 8,937 metric tons of antimony metal, with an average grade of 3.86%; Inferred Resources: 565,700 metric tons of ore, 20,300 metric tons of antimony metal, with an average grade of 3.59%; Inferred resources: 412,900 metric tons of ore, 15,136 metric tons of antimony metal, with an average grade of 3.67%. Additionally, there are inferred resources of low-grade antimony ore amounting to 9,900 metric tons of ore, 86 metric tons of antimony metal, with an average grade of 0.87%.

As a scarce strategic minor metal, antimony faces significant supply constraints due to highly concentrated global supply and limited growth in primary ore production, compounded by declining resource endowments and stricter environmental compliance requirements; On the demand side, beyond the rigid foundation of traditional applications such as flame retardants, there is incremental growth driven by potential applications in emerging fields like photovoltaic glass and the commercial space sector. The overall supply-demand balance remains tight in the long term, causing antimony prices to remain at historically high levels since 2024.

As a publicly listed company with 21 years of deep expertise in the resource recovery of high-salinity wastewater, BGT has consistently upheld the industrial vision of “harmonizing resources with environmental protection to create enduring value.” Leveraging its extensive technological expertise, the company has successfully validated processes for the efficient recovery of metallic antimony from antimony-containing wastewater and sludge, achieving the resource-efficient reuse of antimony. Building on this core technological advantage, BGT is advancing its strategic upgrade by expanding into the upstream antimony sector to secure key raw material supplies. This acquisition marks another significant step in BGT’s commitment to antimony resources, following its November 2025 acquisition of Dahao Mining (which holds mining rights for antimony-bearing ores), and aligns closely with the company’s “Environmental Technology + Resource Development” dual-drive strategy. Through these consecutive strategic moves, BGT has added 44,400 metric tons of antimony metal reserves, further consolidating its self-sufficiency in raw materials. This will effectively hedge against the risk of antimony price fluctuations and support the coordinated development of its environmental protection business and mineral resource development.

BGT stated that this integration will fully leverage the company’s strengths in comprehensive resource utilization, water treatment, and new materials technology, highlighting the combined value of “proprietary resources + green mining, beneficiation, and smelting + end-of-pipe recycling closed-loop.” This lays a solid foundation for the Group to expand into the high-value-added antimony product market and enhance profitability. Moving forward, the company will continue to focus on strategic resource sectors, combining organic growth with external acquisitions to build a new materials industry platform with significant industry influence.