What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2026-03-31 compared with 2025-04-11 · 17 added, 16 removed, 7 unchanged (83% of the section changed)

1 unchanged sentence

where otherwise indicated, are as follows:

(Square Meters)

Size (Square Meters)

Owned or Leased

3 unchanged sentences

Jingshan Sanhe **

Jingshan City, Hubei Province, PRC

Shandong Yunchu***

Qingdao City, Shandong Province

a VIE in May 2019 and became a subsidiary in August 2021.

a subsidiary in September 2021.

a subsidiary in December 2021.

In the aggregate, we currently have land use rights

to, or lease, 4 properties with approximately 44,529 square meters, consisting of manufacturing facilities and office buildings for future

We believe our current facilities provide adequate capacity for our current and projected needs.

All land in China is owned by the government.

and companies are permitted to acquire land use rights for specific purposes.

In the case of land used for industrial purposes, the land

use rights are granted for a period of up to 50 years.

This period may be renewed at the expiration of the initial and any subsequent

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

Jingshan City, Hubei Province,

Became a VIE in May 2019 and became a subsidiary in August 2021.

Became a subsidiary in September 2021.

In the aggregate, we

currently have land use rights to, or lease, a total of two properties with approximately 44,351 square meters, consisting of

manufacturing facilities and office buildings for future expansion.

We believe our current facilities provide adequate capacity for

our current and projected needs.

All land in China is owned

by the government.

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

In the case of land used

for industrial purposes, the land use rights are granted for a period of up to 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

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