Guizhou Hongxing Development Co., Ltd.

The 2018 Restricted Stock Incentive Plan is reserved for the list of incentive targets

　　Explanation: 1. Guizhou Red Star Development Co., Ltd. (hereinafter referred to as Red Star Development) deliberated and approved the acquisition of Qingdao held by Qingdao Hongxing Chemical Group Co., Ltd. at the Third Extraordinary General Meeting of Shareholders held on November 26, 2018. Red Butterfly New Materials Co., Ltd. 75% equity related matters proposal;the above incentives to be valid when the registration of industrial and commercial changes is completed; 2, Meng Fanzhen delivered a written "resignation letter" to the development of Red Star on November 20, 2018, for work reasons, Meng Fanzhen applied to resign as the supervisor of the 7th Supervisory Committee of the Red Star Development and the chairman of the 7th Supervisory Committee. Red Star Development will hold the 4th Extraordinary General Meeting of Shareholders to elect the new Supervisor on December 12, 2018. Meng Fanzhen will take effect as the incentive object after the new supervisor takes office.