January 2026 has already begun. We carry our enthusiasm into the development of domestic and international business, solving challenges through practical efforts and striving for new milestones with united strength, continuing to write a chapter of progress at this new point in time.
1. Business Interactions
1.1 Domestic Business
(1) January 9, 2026: Representatives from Tianjin Ansteel Steel Processing and Jingtang Metals visited our company to explore cooperation opportunities. During the meeting, all parties introduced their company profiles and shared industry information. When discussing potential cooperation, the three sides actively communicated and each proposed cooperation plans, covering matters such as procurement funding support, warehouse rental cooperation, and the expansion of supplier selection.
This meeting marked the official start of our exploratory cooperation with the two companies. Subsequent follow-ups will continue on matters such as proxy procurement and warehouse rental renovations, promoting the implementation of the cooperation plans, and laying a solid foundation for deepening industry chain collaboration as well as achieving resource complementarity and mutual benefits.
(2) January 14, 2026: TAGAL personnel visited our company for a business visit. Both sides reached a consensus on moving forward regarding risks from stagnant orders, project scheduling, delivery of remaining materials, account balance payments, and future project bidding support. All business matters are being tracked and implemented according to plan.
(3) January 15, 2025: The Deputy General Manager of Benxi Steel Group and his delegation visited BASR. Both sides had in-depth discussions regarding the retention of materials in the Fudai project, the company's organizational structure, and future cooperation directions. They not only reached preliminary agreements but also clarified their commitment to actively promote the subsequent implementation of potential business. This exchange marked the deepening of cooperation between the two sides in the automotive sheet supply chain, laying a solid foundation for expanding diverse business scenarios and building a long-term and stable strategic partnership.

2. Management Improvement
2.1 January 2026: To encourage all employees to study diligently and refine their skills, the company has set up special allowance rewards. This month, Zhang Shengjun, who obtained a mid-level professional title, will receive a first-level title allowance, and Zhang Yajuan, a returned overseas master's graduate who has completed one year of regular employment, will receive a first-level education allowance. We hope all staff will learn from exemplary colleagues, cultivate their professional expertise, and continuously improve.
2.2 January 27, 2026: The Beijing Association of Foreign Trade Enterprises invited our company to participate in its two-day annual member meeting, and we sent representatives to attend. At the meeting, the association reviewed its work in 2025, introduced services such as research and training, and outlined three major directions for 2026: segmented industry research, strengthening member resource connections, and deepening multilateral collaboration. Attending this meeting helped our company understand the foreign trade industry environment, policies, and the association's service system, allowing us to gain information and expand our network through the platform. In the future, our company will deepen exchanges, explore cooperation opportunities, and enhance our participation and influence in the field of foreign trade.

3.Steel and Aluminum Market Trends by December 2025

3.1 Steel Market Trends

3.2 Aluminum Price Trend