What changed in this filing

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Item 2. Properties

2026-08-17 compared with 2025-04-11 · 82 added, 67 removed, 206 unchanged (42% of the section changed)

FIGURE 2.1 - REGIONAL MAP

FIGURE 2.1 - REGIONAL MAP OF MINING

FIGURE 2.2 – DETAILED MAP

OF MINING PROPERTIES

FIGURE 2.2 – DETAILED

MAP OF MINING PROPERTIES

We do not own any land, although

1 unchanged sentence

Our executive offices are located at Level 11, Vegetable Building, Industrial Park of

the East in Shouguang City, Shandong Province, P.R.C, which also is the headquarters of SCHC, SHSI and SYCI.

These offices were purchased

from Shandong Shouguang Vegetable Seed industry Group Co., Ltd.

SYCI concentrates its efforts

on the production and sale of chemical products that are used in oil and gas field exploration, oil and gas distribution, oil field drilling,

the East in Shouguang City, Shandong Province, P.R.C, which also is the headquarters of SCHC, SHSI and SYCI (it had been sold in December,

These offices were purchased from Shandong Shouguang Vegetable Seed industry Group Co., Ltd.

SYCI concentrates its efforts on

the production and sale of chemical products that are used in oil and gas field exploration, oil and gas distribution, oil field drilling,

papermaking chemical agents, and manufacture and sell materials that are used for human and animal antibiotics in China.

5 unchanged sentences

Tianbao Township, Daying County, Suining City, Sichuan Province, China.

In the first quarter of 2018,

six out of its ten bromine factories completed their rectification process within factory areas (i.e.

excluding crude salt field area)

and were approved and scheduled for production commencement by April 2018 as verbally indicated by the local government.

The remaining

four factories were still undergoing rectification at that time.

In the first quarter of 2018, six

out of its ten bromine factories completed their rectification process within factory areas (i.e.

excluding crude salt field area) and

were approved and scheduled for production commencement by April 2018 as verbally indicated by the local government.

The remaining four

factories were still undergoing rectification at that time.

Three factories (Factory No.

1 unchanged sentence

4 and Factory No.

to be demolished in September 2018 as required by the government and rectification for Factory No.

11) had to be

demolished in September 2018 as required by the government and rectification for Factory No.

10 was completed in November 2018.

The Company operates its bromine

and crude salt production facilities through its wholly-owned subsidiary SCHC.

SCHC has land use rights to one property (10,790 square

meters, or approximately 3 acre) as bromine production area for Factory No.

1 and land lease contracts to seven properties (approximately

17,816 acre), totaling nearly 17,819 acre, located on the south bank of Laizhou Bay on the Shandong Peninsula of the People’s Republic

Each of the properties is accessible by road.

The Yiyang railway line is within 50 kilometers and the Yangkou port is five kilometers

The Company operates its bromine and crude salt production facilities

through its wholly-owned subsidiary SCHC.

SCHC has land use rights to one property (10,790 square meters, or approximately 3 acre) as

bromine production area for Factory No.

1 and land lease contracts to seven properties (approximately 17,816 acre), totaling nearly 17,819

acres, located on the south bank of Laizhou Bay on the Shandong Peninsula of the People’s Republic of China.

Each of the properties

is accessible by road.

The Yiyang railway line is within 50 kilometers and the Yangkou port is five kilometers away.

Each of the seven properties contains

11 unchanged sentences

the Properties

All of the land in the PRC is

owned by the state.

Individuals and companies are permitted to acquire rights to use land or land use rights for specific purposes at

All of the land in the PRC is owned

by the state.

Individuals and companies are permitted to acquire rights to use land or land use rights for specific purposes at no cost.

In the case of land used for industrial purposes, the land use rights are granted for a period of 50 years.

This period may be

renewed at the expiration of the initial and any subsequent terms.

Granted land use rights are transferable and may be used as security

for borrowings and other obligations.

The Company does not own any land but has entered into contracts with the local government and original

owners of the land use rights to acquire their rights for a period of 50 years.

The contracts required us to pay a one-time fee plus an

This period may be renewed

at the expiration of the initial and any subsequent terms.

Granted land use rights are transferable and may be used as security for borrowings

and other obligations.

The Company does not own any land but has entered into contracts with the local government and original owners

of the land use rights to acquire their rights for a period of 50 years.

The contracts required us to pay a one-time fee plus an annual

Mineral Rights

15 unchanged sentences

has determined that bromine is to be extracted only by licensed entities.

Our mineral rights are issued

by the local government and allow for a one year period of mining.

Our mineral rights are issued by

the local government and allow for a one-year period of mining.

The rights provide us with the exclusive rights to explore and extract

13 unchanged sentences

may revoke the mining permit.

The mining certificate were renewed

The mining certificate was renewed

in July 2021 with production limit of 24,000 tons of bromine production per year.

2 unchanged sentences

factories (Factory No.

The following is a description

of the land use and mineral rights related to each of the nine properties held by SCHC as of December 31, 2024.

The following is a description of

the land use and mineral rights related to each of the nine properties held by SCHC as of December 31, 2025.

All of the bromine factories are under

6 unchanged sentences

2054 (for mining areas only)

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the

of the land lease as of December 31, 2025

Prior fees paid for land use rights

5 unchanged sentences

Period of Permission:

4 ( originally named as Subdivision of Factory No.

4 ( originally named as Subdivision

of Factory No.

1 ) – State-owned Shouguang Qinshuibo Farm

3 unchanged sentences

Factory lease Expiration Date

The number of remaining years to expiration of the of the factory lease as of December 31, 2024

The number of remaining years to expiration of the

of the factory lease as of December 31, 2025

Prior Fees Paid for Land Use Rights

6 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the

of the land lease as of December 31, 2025

Prior Fees Paid For Land Use Rights

10 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the

of the land lease as of December 31, 2025

Prior Fees Paid for Land Use Rights

9 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the

of the land lease as of December 31, 2025

Prior Fees Paid for Land Use Rights

1 unchanged sentence

Mining Permit No.:

Under application, written consent obtained from local land and resources departments

Under application, written consent obtained from local

land and resources departments

7 – Qiufen Yuan

3 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the

of the land lease as of December 31, 2025

Prior Fees Paid for Land Use Rights

11 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the of the

as of December 31, 2025

Prior Fees Paid for Land Use Rights

2 unchanged sentences

Mining Permit No.:

Under application, written consent obtained from local land and resources departments

Under application, written consent obtained from local

land and resources departments

9 – Jinjin Li

2 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the of the

as of December 31, 2025

Prior Fees Paid for Land Use Rights

2 unchanged sentences

Mining Permit No.:

Under application, written consent obtained from local land and resources departments

Under application, written consent obtained from local

land and resources departments

10 – Liangcai Zhang

3 unchanged sentences

Land Use Rights Expiration Date

The number of remaining years to expiration of the of the land lease as of December 31, 2024

The number of remaining years to expiration of the of the

as of December 31, 2025

Prior Fees Paid for Land Use Rights

16 unchanged sentences

facilities on the property.

The chart below represents the

annual production capacity and annualized utilization ratios for our bromine producing properties currently leased by the Company, which

are all located in Shouguang City, Shandong Province, China.

The chart below represents the annual production

capacity and annualized utilization ratios for our bromine producing properties currently leased by the Company, which are all located

in Shouguang City, Shandong Province, China.

There are no proven and probable reserves located on our properties.

Bromine Property

Acquisition Date

Facility Acquisition Date

Annual Production Capacity # (in tons)

2025 Utilization Ratio

2024 Utilization Ratio

April 7, 2007

3 unchanged sentences

September 7, 2009

Factory No.4 (originally named as Subdivision

Factory No.4 (originally named as

of Factory No.

7 unchanged sentences

7) as Factory No.

The following table shows the

annual bromine produced and sold for each of our production facilities and the weighted average price received for all products sold for

the last two years.

7 on May 2019.

The following table shows the annual bromine produced and sold for

each of our production facilities and the weighted average price received for all products sold for the last two years.

Selling price

1 unchanged sentence

7* (originally named as No.

4 (originally know Subdivision

of Factory No.

4 (originally know Subdivision of Factory No.

* Bromine production for Factory No.

5 unchanged sentences

3, 4 and 11 were demolished in September 2018.

The following table shows the

annual crude salt produced and sold for each of our production facilities and the weighted average price received for all products sold

for the last two years.

The following table shows the annual

crude salt produced and sold for each of our production facilities and the weighted average price received for all products sold for the

last two years.

Selling price

3 unchanged sentences

5 and Factory No.

7 were combined in early 2010 as both factories

are located adjacent to each other, and renamed Factory No.

7 were combined in early 2010 as both

factories are located adjacent to each other, and renamed Factory No.

5 (which was previously considered part of Factory No.

7) as Factory No.

7 on May 2019

Our SYCI’s production facilities did not produce or

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties